The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-11-14
Business News

KANSAS CITY Nov 14-The Midwest
reopened its plea Tor lower freight rates be
here today. Believing that in a readlustment
of freight rates lies solution OF the farmers
difficulties Rate experts from eight vest
ern States began presentation OF the farm
ers case to the Federal commission. John
J. Esch and Johnston B. Campbell heard the
case. Henry G. Keene and Elmer L. Beach,
commissioner examiners also listened 10 the
testimony. There can be no relief for the
farmer until freight rates on farm products
are made equitable" Clyde NJ Reed chair
man Of the Kansas utilities commission and
managtns counsel for the farmers declared are
lower prices for his commodities, but his
freight rates remain unchanged
NEW YORK-The reorganization plan Of
the Texas & Pacific Railroad has been COM
pleted il has been authcritatively learned
and the formal announcement viii be made
been handled by Jerome C Hanehuer of
Kuhn Loeb & Co. who said that all detdlS
had been arranged. While the particular
feature that the Texas & Pacific operates
under a favorable charter has made the re-
organization technically difficult from
financial angle II Is one of the most simple
comparatively good financial structure OF the
company and the very good earnings that
have been shown Ia the past few years The
plan provides for no assessment on the com
mon stock of the company Of when 93S-
763 $40 is outstanding Oi tntS total NE
Missouri Pacific owns 81 900 600 As the
cOmpanys cash position has greatly i'm
proved by good earnings no financing is
contemplated now.
CLEvELAND--Irou Trade reviews says
the feature Of the week is the growing
activity in raw materials Pig iron. iron
and steel scrap and other metals an eNlhplt
a revival OF buying that apparently marks
a turn from the recent dropping or stag
nant conditions.
DETROIT. Mich.-The October output Of
Chevrolet was 56233 cars, the largest OF
any month this wear, and an increase OF
q 795 over September.
NEW YORK-The liner Adr1atic docking
Saturday with gold valued at approximately
S36O5, 900 was consigned 70 local bankers
LONDON-"I look forward to good pas
senger traffic next summer. said Chairman
Farley of the United States shipping board.
He denied his trip abroad had anything 20
do with negotiations for selling shipping
board vessels but corrected the assertion
ascrihed to him that the shipping board
would not sell any ships to foreigners. What
he said was that the board would not sell
any operating ships 70 foreigners Run
ming American ships dry won't hurt US in
competition with wet foreign vessels Mr..
Farley said.
NEW YORK-Although the railway earn
ings statements for November will not be
officially ssued for several days there are
numerous alleged leaks of information in
the district These rumors of earnings are
due to news that was too good TO keen"
according to some men who were giving out
the rumors One or two Of the raj roads are
said TO have earned more In October than
for any time in the last nineteen months.
Not alone ia the heavy traffic through
October held to he responsible for this con
dition. but the earnings will also reflect a
/ curtailment in maintenance, according 70 re-
ports in the financial district. Whether the
very high earnings statements viii he made
by only a comparatively few railroads or
viii extend generally throughout the list
was not made clear.