Sportswire Mar 6 2010
JOLTIN' JOE
Joe Louis was indomitable during his prime, but was forced to fight long after his youth was gone.

Above we have a National Police Gazette with a boxing cover, from sixty years ago this month, with the editors’ warning to the retired Joe Louis to stay out of the ring. But what the Gazette didn’t know was that the 36 year-old Louis was under investigation by the IRS, and he suspected the outcome wouldn’t be good. In May 1950 Louis was jolted when the authorities declared that he owed half a million dollars in back taxes. With only one way to earn the cash, he cut a deal to box for prize money to put toward his debt. He fought and lost to Ezzard Charles in September, and the next year was knocked clean out of the ring by Rocky Marciano. But for all his efforts he was still in debt. The purses had been low because no one wanted to pay to see Louis—who was the first African-American considered a national hero by both blacks and whites—beaten to a pulp. After the Marciano debacle, the fight offers dried up. Louis retired again, and this one stuck. We’re going to get back to Joe Louis at a later date, because his is one of the more interesting and inspiring stories you’ll run across. His financial troubles were not so much a failure of character as a failure to comprehend the corrupting force of money, and the need to hire not just a lawyer, a manager, and an accountant, but a lawyer to watch your lawyer, a manager to watch your manager, and especially an accountant to watch your accountant. We have some Gazette interior pages below, and you can see the other Gazette boxing covers here and here. 

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History Rewind
The headlines that mattered yesteryear.
February 16
1937—Carothers Patents Nylon
Wallace H. Carothers, an American chemist, inventor and the leader of organic chemistry at DuPont Corporation, receives a patent for a silk substitute fabric called nylon. Carothers was a depressive who for years carried a cyanide capsule on a watch chain in case he wanted to commit suicide, but his genius helped produce other polymers such as neoprene and polyester. He eventually did take cyanide—not in pill form, but dissolved in lemon juice—resulting in his death in late 1937.
February 15
1933—Franklin Roosevelt Survives Assassination Attempt
In Miami, Florida, Giuseppe Zangara attempts to shoot President-elect Franklin D. Roosevelt, but is restrained by a crowd and, in the course of firing five wild shots, hits five people, including Chicago, Illinois Mayor Anton J. Cermak, who dies of his wounds three weeks later. Zangara is quickly tried and sentenced to eighty years in jail for attempted murder, but is later convicted of murder when Cermak dies. Zangara is sentenced to death and executed in Florida's electric chair.
February 14
1929—Seven Men Shot Dead in Chicago
Seven people, six of them gangster rivals of Al Capone's South Side gang, are machine gunned to death in Chicago, Illinois, in an event that would become known as the St. Valentine's Day Massacre. Because two of the shooters were dressed as police officers, it was initially thought that police might have been responsible, but an investigation soon proved the killings were gang related. The slaughter exceeded anything yet seen in the United States at that time.
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