The Courier News from Blytheville, Arkansas on October 11, 1932 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

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Blytheville, Arkansas
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Tuesday, October 11, 1932
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Page 3
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TUESDAY, OCTOBKR II, 1932 (AUK.) conmrcrc NKWK PAOJB THREfc , Strengthens Case Stronger Public Control o( hnuncing. i:i)ITOI!'S SOTK: This is th? la;l rf MY stories °» Samusl Insuil. "Hit- nurlil'i B ri-atrEt failure." slructurc without n penny invest^!. Tncsc holding companies luid i\n- othcr purjxvse. They were vehicles for originating ami selling additional securities lo the public, Thus ll'.ey enabled Insull to raise money (or his constant expansion. Each holding company marketed its stocks, Its bonds, Its debentures on the basis of the earnings of the company below It. Capping the great financial pyramid were Insiill's two super-holc'lng companies, the S250.000.000 Utility Investment Company and ihe $150.000.000 Corporation Securities, Inc.. boih of which liave now collapsed. When bankruptcy auditors dug in- HOLLYWOOD GOSSIP INTIMATE GLIMPSES AND INSIDE STUFF ON THE MOVIE COLONY •BY DAN THOMAS' HV ROBEKT TAI.LEY NEA Service Wrllfr iCcavri-lU 1832. NBA Service. Inc.) CHICAGO—The crash ol Samuel Trull's $4000.000.000 utilities empire not only has rcck?d (he po'.v:r industry but it MS heightened public hue'rest i" the uolilical aspects of the 50-call2d poivsr trim. When a half million investor? residing i" «very state from Maine to California lose upwards ol three-quarters of n billion dollar. 0 in insiill securities, lh; i trust is-nie emerge;, from th= ol cold economics and becomes something painfully real. HOLLYWOOD.—Facts from filin- . . - land: John Holes entered tin- Unl- to tl'.csc they found each company I vcislty of Texas to study mo:llc:r.e. had invested millions in the stuck! B IU j ie msin , y 0 s;l as a biseb.ill', of the other, control was iimK'l i |)U c :-.cr to such 'an ex:?nt that IK-' i and Intertwined in a series of ma- , a !ni=st tack tip th? n.ili^ia! pus- iiipulalions thai probably repre- | ,; nl[> ,, 5 „ cnv t-?r. Intend h; went suited the most nmfli'.iiiy flnanc'.il i u f ni - muiical c-invdu-s. A:id r.avy juggling in history. , h-j's a movie actor. This was Ihe house of cards that i unict- Cakot secured his r.e.v 1-0:1- Samuel Insull built up for himself i i r!lctp w | t ], Radio Pictures only af- anci by which he was destroyed | tcl . kissing 13 pretty girls, fie was when it collapsed in tlic grej;».a : u u , f 0 u whenever the smdla >.v.mi- tusim'ss failure in th; world's Us- . 0(1 to lna ^ c ;l [( , s i of a uul. 0:i ilu- j tor y- i seventy-third test, Cnboi got tiv.'' — • I contr.icl—l!:e girl didn't. ud>-.- u.in- Chicagc Banker Freed ' lcls cl " ims lo l)1} >'»«>i>'"-'> i -i-ii.-!!.. , „.. i f.ophisticatton to her ineiinln:; isitel- Unharmed by Kidnapers ' i^encc pins a dash ot vuitai;•.>-. ! Neil Hamilton lias a p-j| mills- CHICAGO, Oct. 11. iUP)—Nor-! which hi.' keeps tied lo a ii:e 111 man CcHins. 3D, president -of two •. his back yard. Russell Gteason has Chicago banks, was home and mi- i six love birds. Alice Whin- has t-.vn i Every issu; iiEeds a personality to make it marc intelligible, an; Insull now personifies the pswsr Irust IP. the p-jbllc mind. He and :<.i; methods -appropriately called "Ins'jllisin"—ar? so-iielhing thai the layman can understand. "Insullism" promises to color trie presidenlial campaigns of Roosevelt and Hoover on an increasing scab. It it almost cc-rlaiu to be the subject of a Senate Investigation in December. It is certain lo stimulate legislation for [eder.il regu- Joiion of public utilities. To Congress, it has given a subject for debate equal to the Teapot Dome scandal. Riinf.evelt Seizes on "Ireullism" As Issue Political observers believe the reaction against "Iiisu!ll«m" will help Franklin D. Roosevelt and hurl Herbert Hoover. Rcoscvelt has made an aggressive issue of the power irusl, advocating more effective federal conlrol of Ihe Industry. Although Hoover has rccommendcc 1 . the same thing four times in four years, his views are not as emphatically fixed in the public mind. The essential difference is that. Roosevelt is for publicly owned plants, whereas Hoover is'not. Quick to • seize tiv; opportunity. harmed today when kidnapers who ; ret Tom Brown knows i;-jw held him for S5.000 ransom avoid- • to handle bses without gctiisv.; 3d almost certain capture and poi- | stung. And Austin Parker, forme: sible deat:i by giving him his free- husband of Miriam Hopkins, is an dom. ' icxpsit on Ihe ailments of gold fisii. Collins, who was klcJnap:d with ! Alexander Klrk'.and. althjusr. his wife near his home in the x- ,born in Mexico City, Is the grand-: Vvariitr" Ilnilheis' serern vcrsiiin of "Tin 1 M - ccutive suburb ot Wllmctte yesler- 1 son of the late Itcar Admiral Wilday morning, was released twelve liam A. Kirklanj. U. S. N. He onct 1 hoi;rs laicr wlthoiu payment of | spent two monl.ls in n French msu- ! ol them his own. He once earned ransom. The atcluctors haci freed ' asicry while wailing for fumls \vith . his living as an artist. So did his as she will appear', rule u[ (he nun In i Poem Celebrates Golfer's Hole-in-One HOLYOKK. Mnss. lUI'l—FcHow memoes of the Lions' Chil) coiu- l»st'<l and read the following poem . | nfler Hrolber A. 15. Clictii, attorney, shot a lio!e-tn-one at the! Mcu.nl Tom Golf course: j Mount Tom's golf coiirw Is n won- I W. M. Mrs. for the Plelcher chapter United DaiiKhters of llic of tl'.c CX>nfcd- S. Mrfts. John 0. Mcllauey Jr., titul . T. Kills were hoslessi-s Wniniiu's Milssloniiry so- the I'lUi-Ami-i'i- ! sll ,, y 0 , thc rhsl Qhrisu,,,, churcli ,i-.i lli:M when he . wl|lf]l 1|| , !l Monrtn j, ,,[ W |-uooi> nt mi- No Mlcr course wus ever seen. For la.st SaturJay. by llumder, Wits an e.igls shot by A. 11. Own. JUAKK/,, Mexico. iDI'i—It ccst:. mon?y hi'i-i: If Ihe flag Isn't raised | on 11 n.itiontil hoihiay. 7.. uuii.'r ol can liji-Ii-n. U.-UIIHM IM:U "'"'"' lv ' which mut Monday paid n mil- Ur n:i! t!isi>l,iylnji (he , , lflm( , 0 , M[s ^mi^y. Mrsli-jn lla'.: on Incis-peiHlciice n.iy. • 1(| ,, u , buMn(lss s(!s slon Mrs. !•:. K, i^Hlmor, pii'sldent, pre.sltle:!. l)('ll and Vidinty \ With -nw- American liHllun" , iis Ihe sunJt-cKMra. W. J. Knux Mrs Hop Sccov hud as her' Bnve the ilcvotlonnl with John la: m-l last tt-ch-1; lier inollH-r. Mis. , 20. 21 and Acls 11:20, ai, wlilcn was li. triil!} of Knisull. Ark ! followed with comm-nls Item " I In- MLS. JJnvi- Ciunlord and Mrs.' World _ Cull" on "We Would bee (Jail Wuilni'i! ipt-ul Tiu'Ml.iy shop- | Jesus." :lui in Me-mphts. Mrs. K. M. Terry, us presenta- U:- .1. ],. Tidwell. Justin '1'ldwell, | Uon leader, lold ol Ihe ;J. |{. WiilJace. Hop Si-rtiy and Hoy; " :•; cut 11 i:iirl »l Li; ( week i I iniiHlui; ni Hurdy. i: , Hchei'tii Seavi-y. iMiii Kel- ,ar ;i!iil Enrl Uurr "I Joiii'sboro • wen- Use Biiists of' Mrs. Floyd ! CmU-rk Smidiiy. Miss Kthi-l Cin 1 I '.cck iviurnrd tu Joiiefbnro wnh I thriii tu rcsinne her stuilli-s at SI. being made up of dati(jht?rs ol memlx-rs or those who mo ellgl- We for meniberEhlp. A program rendered was mad; up ot these nmnbjrs: rending "Tho Blue and (lie Gray," Miss Martha Houulns; "Story of Dick Dowltng," Miss Mary 1C. Dilltiluinty; rciie ot (ho pledge of the Children ol the Confederacy. Refreshments were .served. • i • Junior t)i-|ur(mriH ' C1.U-- Names Ofllrrrs- Miss Adn Donoho's Simdny ichool in the junior department o! I'lrsl Molhwllil church,'In a Knturday afternaan at tlic •.uiiie of Vlrghiln KIlz.ilKlti Ocod- iIcli, elefled llicse olllcei.s: Virginia Kll/ubelli ClOKlrlch. president; Vir- itiiiii Htmmoiis, secrclaiy mij re- luiter; Chu-a Ji'.in Motl-.-y, vice iitr.sldeiil; Mai-)0rli- Rimer, livasur- Harbour, lied with 10.42S votes- each for th« Republican nowuii-" lion for Congress, were required by state la* to brealc the • tie by •gambling" for the nomination. They elected to have Secretary ol State, Franic c. Jordtn draw llio name of the winner horn a liat. Dcvore's hat was pressed Into service. It disappeared, he. said, Immediately aflsr th= drawing. \\-iiy t<-' the While Swim, (he clnirch's mission stiiilon iicnr Washington. A disciisslun of the work nmonv; the 1 i Ynkiina Indians wus led by Mrs. nrin'.uti's hospital, alter in the fauiiius Mrs. Collins after scaling down a ransom demand $5,000. j which to get home. And (hen he ! brother. John— but nol for Mrs. Clmrlcs AnnslroiiB nnd children .i|>cnt Sur.iliiy lit Cur- -lllc \ls\tlni! rclntlves. Mr. and Mrs. W. M. Ivjwis mid Mrs. I-'. II. Gill allendeil the W. W. aiuivi-r and 11 report at visit uiacic to Indian homes wus cii by Mlssts Dculnh liulle null lliu- ncllc lli.idlcy. In the sm-liig of 11 s-.iliul course (he Ihillowe'en motif wns di-llly Cil| ::|cnri'l«l mil. ^ ^ < Ijkc Stiri'l CHurcIl few Lost Nomination— Also His Unlucky Hat I'HKSNO, Calif. (UPi—It wasn't MJ bud. opined District Attorney Oli'n M. UuVore, (o losa t:ic He- liiibllrtin nomination lor Congress but to lo.se his lint—tin; one [rcm \\lilcli his opponent's inune wu< drawn lo (live him the nomination — was prelly bail. Drvorc anil Congrossmiin Henry Virginia Rediitricting Law Held Unconstitutional' 11IOHMOND, Va., Oct. 11, (UP) —The Virginia congressional redLst- ricthiK act of 193^ was held unconstitutional today by the slate • supremo court of appeals/ The law reduced ths state's con- gi-csslonnl districts from ten to nine. •• DISTRESS AFTER MEALS Relieved By Black-Draught "I Imd fiour Btomach and EQB,','. wrltrn Mr. Jena Ulgglim, ot Daw- -.r enuvtlli?, (la., "and often I would liuvo billons spells, l read about"., TlU'dfoi'd'n Illnck-I)rniih'bt and bo-. ' Knii to lako It. It relieved mu o( Kiln trcnlilo. r keep It nil tlio Umo '•' i.nw. I con-itilcr It 11. rino n:e01c]r.o. 1 luUo u [ilrK-ii or niuck-IJiiiiiElil ilflcr IIICillH WlK'll t llCL'il It. It hCLpq to „ jTovcul nick. lio:iOiiclLQ iinil to keep Uiu rVKletn In uooil on/cr." llui ii inidcnuu nl tlm more. Try HI .V'jio JMKI ran utl Hlttck-DrauuM fn" 1 " t/ic /ncffi of (i KYltUI', for CniLDnnw. ' lunp. Mi>5i:»lppl County DaplL<it assocla- Del! P. T. A. Plans to from $100,000 to j didn't stay there. i lywood. One Golden Hour '. And (hen lie : brother. John—mil nol tor lonp. i •"'••"••"'I'l" <-""'"* "»i»-i-. ...—>.... lie came to Ho!-: John Glllisrt has a wrulc garden I H<» '« 1 '<-'"»15 nt«Mimila lust week. | full of cactus Just because he likes M'« "«^l CJordon of Mem- j to look al it. ! Eighty per cent of all adult ad- ! "' |lhl ' Mir : iclc"-l'iii:ill>' _ - . „ , I misilons to motion picliir; Ihentcrs | After six years of delay and llti- tntertain School HeadS j throughout the country are pur-1 nation, "Thc Miracle" ISually is to DELL, The Parent-Tea :her association met. at thc school uidilorium Friday afternoon with -levcn inernliei-s present. Ar- •aiiRcineiils were made to serve i 6 o'clock dinner to the prin- :ipals and superintendents of Mis- ;i£sippi county schools who will j meet here Thuriday. October 13.1 chased between-1:30 and 8:30 p.m. Which must menu (hat in these days the box office girls get plenty n f rest (he remainder of the clay. You never would expect lo and some of your favorite screen characters living in the kind ol homes they do. For example, Wallace Uee- ry's home is filled \vlth rare pilni- ngs and next to flying lie prefers A bingo party, held by Hie as- i to sit In his library and play clas- ;cciation Friday evening, was n " " •jreat success. Practice on the play, "Clubbing sical music on the piano. John Mil- Jan's home is full of children and canary birds. He raises th? birds as be brotiyhl lo the scieen. I.oretla Young will have th.; nun's role, first made famous on th'_- stage by Lady Diana Manners. Louis? Fa ?.'.'] id a has Hollywood. And whul has It gotten her? Tf the fall styles don't Include tweed suits, Kay Frnncls will bo sunk. She bought three of them for her trip to Europe—nnd (hen phis sj.ent her puvi'iiis ihe week-end nt Rosi-lntul. !)lfs While Attriiillng Fmirriil KU 1'ASO, Tex. iUl'1— Whtlo wnltin 1 ^ to ullend the lunernl of his best, friend. Jesus Jimlniv, :IH, dle.1 niter a violent cou&iilng spell. The coromv InvDstinaled ami Mild | he ti-llevetl Ihe man died of a heart iiltuck afler drinking glass of writer. Husbands." will begn "Monday af- a hobby. The to women. That's wrmt .Tallulnh didn't go. 1 nnnkhr-acl llilnks. nut how ninny Young nans Fairbanks' bathroom | agr--;!- with her Lilyiiii Tashnnu has threo showers nnd h ball: tub. i has n complele .liunch wardrolK— And -William Powell had lo have n I bathing suits, pajamas and evening j Houblns of Steelc. Mo., treasurer; To HUH- del Tucrlhcr. All members ol the I.«ko Stic;". Melhodls; church and otliers win worship there lire invited to intend the get together mi-cling Wednes- Iny evening, 1:?0 o'clock. A pro- rnm luis ben planned which will be of Informal niiluro and the mccllni! Is to be a generul leimitin. All wlio go lire a.5kort to Hike .sandwiches nnd Ihe four pnsters who worship there, the Hcv. J. T. Hood, the Rev. .1. A. Vance, the Rev. 1,. W. StiifTonl nnd Ihe Hnv. W. J. Lclloy. will provide drinks. * » • Children of Confederacy HcurRaniic. Eltet Ofllrcrs. Miss Nina Barnes wus -lee 1 - 1 president of the Children ot tho Confederacy In n niecllng Saturday afternoon nt Ihe home u: Mis. Cl. B. Barnes, sponsor. Oilier "'- llcci-.-i niiined were: Miss RulU Dil- lahunly, wcrctary; Miss KlauiLi The walls of Lionel Bar- special closet, built off his hedroDm j BOWII<—nuide of red and while to I Miss Jane llnuuan, historian; Miss home are adorned wilh ! to take care of all his suits. A bean- match her red and while Mallnu I I'atly Shnne. rcparlcr. ternoon wilh Nfrs. Noble Gill di-1 rymore's 5 many etchings and piinlings, many I tiful voice is nature's greatest gilt, home. So what? meeting. This group Is affiliated with the Roossveli attacked "Insull monstrosity" in his Portland speech. He flayed such tactics bitterly. The Insull collapse has given Senate Progressives probably Ihe most important single break th2y have . ever lind in their long campaign to siane the power trust a popular and uic'erstandable issue. GiMcf among these Progressives is Senator George Norris of Ne- l;rr.:ka. who has fought lor years against the tactics that finally "rc-.ight ruin to Tnsull and disaster to Ills investors. Norris, campaigning for Roosevelt, is expected to Isar into "Insullism" anew. In a Senate speech this year, Norris cited a report by the Federal Trade Commission to show t!:al Ihe power industry was heavily overcapitalized. In certain big companies to which he called attention. Norris said tlie stock had been "watered" to the extent of S520,- MjO.CGO. "That means," Norris said, "that wit*: tbs investigation only partly completed, the Fcdc-ral Trade Commission has disclosed 'write-ups' 'that means waterl of $520,000.000 en which the poor people. Ihe common people, must pay a profit at all times." Usually, local rate-fixing commissions allow rates thai will provide a return of 5 to 8 per cent on Ihe .company's investment. To support SMO.GOO.fcOO of increased valuation at 6 per cent, th? public would pay nnre than S30.030.000 yearly in rates higher than they might be. Upon groups of operating com- pani?.; arc sreclcd holding companies whose financial operations are far more complete and intricate. Recapitalization through these holding companies provides additional opportunity for l'r.2 promoters to profit. Insull had scores ot Mich companies. Sometimes Ills V hoi:ing companies, eac'.i controlling the one tilow it. were stacked five deep. With successive concentrations of voting sic:k (only a small part ol Ihe total) control ascended peak- wise through these holding companies. Thus, if the "insiders" had a comparatively smalt Investment in Ihe topmost company, they could control everything below it. Control Vested in One Per Ccnl Holding To sum It up: -When I mull's Middle West Utilities Company was ? $2.500,000,000 organization, il was estimated that $20.000,000 invests:' in the top holding company woulcj control the whole far-flung eaipire lhat stretched from Maine lo Texas. That represented control by an amount Jqttal to Isss tiittn 1 p;r cent of fee lotal! But Insiill's/ amazing financial system went even further. It was Possible for him to control the W ':ci3 Insull empire without a cent of his own money invested. ( Thi s was possible but it was not ' lle situation; Iinull did invest his o-.vn money.) The explanation ol this lies In ''• c facl, thai, lo E'lort-circuit stockholder control, Insull often used a voting trust arrangement »y which stockholders trusted to him the voting right, of their shares. Su ch an arrangement at the topmost rung would have mac'e It pos- £ib!e for Insull to control the whole CROP PRODUCTION BORROWERS Collateralize Your Loans throigh MID-SOUTH COTTON GROWERS' ASS'N. at 9 Per Pound WITH CLIVE IN INDIA "Nuliirc in the Raw" — as purtrayed by ilie no(L'iI urtisl, Karl Gudu'hi... in- hy ihe /(free and brilliant by Clire titut a handful of followers, out- ntunbcrcJ -20 to 1 by savage hordes of bloodthirsty natii'c'5 at the Battle of Plaiscy—the birth of the British Indian Empire—ax described in the famous book, "Wilh Uivc in India." —and raw tobaccos have no place in cigarettes They arc not present in Luckies . . . the mildest cigarette you ever smoked W E buy the finest, tlic very finest tobaccos in all the world —but that does not explain why folks everywhere regard I.ucky Strike as the mildest cigarette. The fact is, we never overlook the truth that "Nature in the Raw is Seldom Mild"—so these fine tobaccos, after proper aging and mellowing, arc then' given the benefit of that Lucky Strike purifying process, described by the words— "It's toasted". That's why folks in every city, town and hamlet say that Luckies arc such mild cigarettes. "It's toasted" That package of mild Luckiet "If a man u.iitt a bttur lack, {mack a htter imnon, or makt a belltr iwtist-lraf than his ntigbbor, tho ht build his htuse in tin twds, ike world nil/ matt a bealtn falh lo his dour. "-RALPH WALDO EMERSON. Docs not this explain the world-wide acceptance and approval of Lucky Strike? tia»i* 7/H-inch MlfMJl'ng, ninri- nr fi'jjl rHVtmJintf /(> gmrlfl ami staple. WHKN YOU HAW: FUM/Y COI.I.ATKRALIZED THIS YKAH'S LOAN, nnd if you fully collateralizcd l;isl yrai-'s limn, Hio st'Mnd ]norl«:ino on Ibis year's crop is imtt>in:ilu-nlly' cnna-lii'il. : ' /..-.rilv • • .Any unpniil 'or: iincolliili'nilii'.ril amount carried over from last your, t-iin ulso lie t-olliilwali/cd ill ilc per pound. The (loveninu'iil will accept Mid-Soiith's valun- linu (in tlio cnllou ami rclcasn its lion on your crop. Under lliis plan, yoil nm apply Ihe balance nn oilier (Mils or use il as you please. • Tlio Miil-Soulli Assui-itilirm will help you by — furnishing picking nnil finning mvni'.y. — fluffing your tollon jrfp, of r.hnrgi'r —ninking y.vur r(.-/iorf find remilliincc In Ihe (>ov- friniH'iil trillion! fur- llwr troiililu »n your l/nrl. One of nin- Incttl roctlvrrs nr IUIL- of mn- SO lirnncli offices in Arknn- MIS, Ti'iiiu-sMT nnd Missonii 1^ located ni'jir you; %vill ctillnlerali/e your luniiM: funiish tiK-liln( iminej- nnil makr ynur i-rpnrls lo fiov- {•rniiirnl :mcl clvi- ynu full infm-mal'mii ri-^iniini; <'.mp llroiliiclloi) After satisfying your gov't. (or if you have no gov't. loan) and satisfactory settlements Through Any of tlic Mid-Sou tli Options: IMMEDIATE SALE POOL Cntlnn can hr culled on dnte of drlivcry nnd settlement made in full. t . OPTIONAL POOL COTTON Ciitlun run >>r r.illctl nny day and hnein rixrH tSe diy you doliviT. \\'c will r.rfvr.ncc \>ilhln Ic a pound r.f v.^hic. SEASONAL-VALUATION POOL We advance > »u «ilhiu Ic per pound of value Rnfl pive you nteraxc price* Rain tor st.ison. SUSPENSE POOL Wr nlll iidvanct within 2c ptr pnun<i, Ami you liavt urtil December let In make up your .mind in which pool to place your cotton. Remember the Mitl-Sntilh /Issofiulioii in owned nnii c<>»- Irollfil In- roltim farmers anil operated for voitr benefit mill protection. Sec your hranrh manager, locnl receirer or irrile MID-SOUTH COTTON GROWERS' ASS'N. 822 FALLS BUDG. MEMPHIS. TENN.

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