Clipped from US, Indiana, Indianapolis, Indianapolis Times, November 22, 1923

J United News, united Financial, ^EA, Scripps Alliance and Pacific Coast Service.R MWVOLUME 35—NUMBER 164TELEPHONE\LUATIONATTACKEDAttorney for Public Service Commission in Rate InjunctionHearing Accuses Company of Padding Worthof Central Union Property, *ORDER SOUGHT WOULD CONTINUE PRESENT RATESJudges Baker and Page of Chicago Sit With Albert B,Anderson of Indianapolis—Most ofState Affected by Case,Attempts to show that the historical valuation of property of the Indiana Beil Telephone Company should be taken into con sideration in determining valuation for rate-making purposesmet with opposition from Judge Francis E. Baker, one of the three Federal judges sitting in the telephone rate case, in Federal Court today.Shirley said that when the propertyALLIED TRUCE ONAnglo - French AgreementMerely Prolongates En-of the old Central Union Telephone | Company was taken over by the Indiana Bell Telephone Company In 191ft the valuation was “written up” from $15,000,000 to $18,000,000 and that the value of $15,000,000 was $3,-1000.000 higher than the real value, according: to affidavits of expert accountants.Judge Baker addressed a line of questions to Shirley, which would I tend to show that the manner of acquisition of property or the original 1 cost of it had no bearing on presentvalje. Shirley insisted nevertheless that historical valuation was an element which the court should consider.Three Judges Sittente of Nations,By Unit'd PrePARIS. Nov. 22.—The morning papers today emphasized the agreement reached by ambassodra’ conference Wednesday on hote.s to Germany dealing with imposition of control of GerSitting with Judge Baker were Judges Albert B. Anderson and GeorgeT. Page. The hearing was on a suitfor injunction to prevent the commission and other State officials from interfering with the establishment of telephone rates greatly in excess of those set by the commission. The rates asked by the company now are...... _ . in effect by virtue of a restrainingman armaments and with the custody - ^ . __ . . T . . .. . ... . . order granted by Judge Page in Aug-of the Crown Prince, is “purely tempo- us.Miy 1T ‘ .. . . „. .. , . The commission in August grantedIts chief benefit was considered to . . ,rates increases of about $1,000,000be the prolongation of the Anglo-1French entente.AGREEMENT TERMED “GAG»»IJoyd George Supporters Say Bald win Continues “Easy Mark.'• Iannually. The company asked increases aggregating about $l.ftOO,000.Practically the entire State is affected. ^William H. Thompson, attorney forthe telephone company, took up the greater part of the morning with an argument against the amended anas Unit'd PrratrLONDON, Nov. 22.—The Anglo- swer of the commission and its rateFrench agreement has thrown an other bone of contention Into the British election battle today.order of August.He announced that if the injunction were granted he was ready to file anyLiberal party supporters of David bond required by the court to cover Lloyd George claimed it was just a excess charges collected from subsorih-“gag“ to help Prime Minister Stan- ere in case the decision after a hear-ley Baldwin win his election on Deo. ing by a master in chancery should le 6. so that Premier Poincare of France against the company. He said the would continue to have an easy company was ready for an immediatemark” to deal with In England. The conservatives hailed It asgreat diplomatic victory.GERMANY IS RELIEVEDreference of the case to a master.Five Attack PointsHe attacked the position of the commission on five grounds.That Its order granting a return of 6 per cent was confiscatory. HeTake Note to Mean Nothing Will Be said the company was entitled to earnDone to Crown Prince.11 y Unitrd PrraaBERLIN. Nov. 22.—German yisR per cent on Its valuation.He pointed out that the commission made no criticism of the managevastly relieved by the nature of the m«nt- tha‘ operating ex-(Continued on Page 11)notes agreed upon at the ambassadors