The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-11-19
Business News
Nov. 10

NEW YORK, Nov. 19-More than 100,-
600 German soldiers landed in New York
harbor Sunday. 1t is a Christmas invasion.
They are wooden and tin soldiers. German
toy makers. whose jobs were disturbed by
the war, largely because the American de-
maad fell of, are again busy ct almost
their former pace, and when the big liner
Albert Ballin, of the Hamburg-American
Line. arrived from Hamburg she had aboard
5000 tons of German toys for American
kids The Albert Ballin was the first Christ
mas ship to arrive here from any port.
Others, however, are on the way with even
manufacture. although some cargoes are de-
clared to be on the way from Austria and
Czecho-Slovski !, in Europe and from Japan.
WASHINGTON-A decision on the queN-
ton O. a change in the present level of
Federal reserve bank rediscount rates Is ex-
pected TO be the outcome of the meeting of
the redera reserve boards with its advisory
council. The meeting will last two or three
-ays. Revision OF the existing rediscU Unit
rate structure has been given considerable
thought by reserve board members for
months, but il Is understood that the board
consideration will be given 10 a readjust-
ment of these charges. Since last March
Federal reserve rediscount rates have re-
NAMED uniformly at the level of 4 y per
cent. Considerable stress was laid by the
board cary in the spring upon the uniform
rate level in securing an equal supply Of
credit to the sections of the country.
NEW YORK-For the four months. July
to October, exports Of merchandise eX-
ceeded imports b. S2Ts $50 ST7. an expan-
sion Of SOS 900 900 over the balance for the
fiscal year 1929. As against this increase,
net god imports rose 20 Sl13,o53,9TT in
the 1923 period compared with Ss6.S3g .557
a year ago This seasonal modification Of
the statistical condition indicated by trade
figures Tor ten months vas mainly through
the usual and normal increase o. cotton ex-
ports, The excess OF exports for ten
mouths of 1928 was only Sl35454l7l.
covering cotton to Oct 81, compared with
~S5S0.336,S53 q year ago.
NEW YoRK-After Supreme Court Jus
tice Mullen had signed an injunction Satur-
day restraining Scott. Norris & Co. cotton
brokers at Water St. from continuing
business. it became known that an involun-
tary petition in bankruptcy had been filed In
the Federal Court against the concern. Will
alleged that the firm had bucketed orders
ATLANTIC CTTY-That the most serious
bituminous coal strike in history of the
country viii occur next spring, when the
present wage agreement expires, Is preqlcate2
BY l. a. .Snead. assistant to the United
States Fuel Administrator and director OF
distribution during the war. Snead. who Is
president OF two large coal companies in
Washington. .. G.. is here recupefRtiug from
a recent Illness. "A coal strike in the union
butuminous fields. consisting OF about rs
Is certain he declared There are three
major problems on which neither the oper-
ators nor the miners viii arbitrate. One is
the wage question. the other the cheek-on
and the third the national versus district
agreements. ANY one OF the three will prove
sufficient to bring about a strike"
CHICAGO-Business is in a healty condi-
ton with a seasonal distribution in all
lines. The steel industry has reduced its
operating capacity to 10 or 80 per cent on
the average. against IS and 95 per cent. as
the recent peak. But, with shipping facil-
tiles the best in years. the industry Is en-
abled to make steady inroads on its untitled
tonnage and buyers knowing this are plac-
ing orders in a moderate way.