davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times., 1932-05-25

Dramatic Club of the Holy Name
church. Beech Grove. will give a
kid party" az 8 tonight at the
church. Miss Marie Logan, presi-
dent. and Miss Rhoda Roberts. vice
president. are in charge.
The Indianapolis times., 1932-05-25

A guest party at whispering
Winds viii be held tonight BY the
Alpha chapter Of Theta Mu Rho
sorority. Mrs. Robert Zimmerman
Is chairman OF arrangements.
The Indianapolis times., 1932-05-25
Plans SupperBrida

Alpha Phi alumnae OF Zeta Tau
Alpha sorority Will be guests to-
night al a supper bridge 10 be given
by Mrs. Theodore Applegate, i427
Park avenue.
The Indianapolis times., 1932-05-25
AIphd Bet0S to Mee1

Beta chapter, Alpha Beta Phi
sorority. will meet tonight at the
home Of Miss Rosemarie Yanzer
1882 South New Jersey street.
The Indianapolis times., 1932-05-25
VIII Fete SOrOritu

Miss Bertha Knoke. 319 South
Christian avenue. will be hostess to-
night for the Alpha chapter, Delta
Sigma Chi sorority.
The Indianapolis times., 1932-05-25
PLAN BANQUET FOR
TRIANON MEMBERS

Senior members of the Butler
university unit Of Trianon will be
honored at the annual senior fare
The Indianapolis times., 1932-05-25

rating the table. An informal pro-
gram will follow the banquet.
The Indianapolis times., 1932-05-25
TheSi Club to Meet

Thesi Club will meet at tonight
at the home of Miss Marian Pissel,
4212 Broadway.
The Indianapolis times., 1932-05-25

| AMOS PARRISH.
THE INDIANAPOLIS TINES N. Y.
| FASHION BUREAU.
500 FIFTH AVE. N. Y.
Please send free bulletin on Hints
| CT Cleaning Accessories. ] inelose
| stamped. addressed return envelope.
| NAME .....................
| ST. ..-.............'..''
| CITY,. ....'......''.''..''
STATE. E....................
The Indianapolis times., 1932-05-25

Next: Linoleums come out Of the
kitchen.
The Indianapolis times., 1932-05-25
GiUe Fashion a Tumble With This Suit

This suit Of
"tumbles,
as they are
called,
is made Of a
UerdGnt
green
and
White,
the shorts
being
plain tone,
as is the
beret;
the shirt is
green and
iChite lacy
Opcn-tCOrk
aCedrc,
1Cith q
green band
around
the top,
SleeUeS
and
bottom.
Evening star., 1932-02-02
VIRGINIA TOBACCO
SALES OFF IN 1881
Prices Also Lower Than in 1880,
Annual Market Review
Shows.

Virginia leaf tobacco markets sold
25,049,8 1854 pounds Of tobacco during De-
cember at an average of S6.38 per hun
dred, according to warehouse reports to
the commissioner Of agriculture. Total
sales for the season to December 81
were 62,902,46l pounds at an average
of $742 per hundred pounds, compared
with 1851 100 pounds at an avsrSs2 OF
S947 sold to December 81, 1885. Ere
cured sales last month amounted to
16,110,493 pounds at an average OF S6.l8
per hundred. The average price for
flue-cure tobacco to December 81 is
S762 per hundred pounds, the lowest
since 1899, which averaged s6.3l per
hundred.
Sales of fire-cured tobacco amounted
to 5,122,656 pounds in December at an
average Of S4.67 per hundred, and the
average price received for this type
prior to December 81 was $473 per hun
dred. Burley sales totaled 1921 1925
pounds last month at an average OF
S10.18 per hundred pounds. Sun-cured
December totaled only 495, $50 pounds.
The average price of December sales
was 1922.
According to estimates of warehouse
men, December sales of all types graded
IS per cent good, "a per cent medium
and 81 per cent common, compared
with December, 1880, grades of 13 per
cent good, % per cent medium and So
per cent common. Among the indi-
vidual markets, Danville led in Deem
Der sales with 8,566,866 pounds, South
Boston ranking second with 3,347080
pounds Abingdon and Richmond, bur-
ley markets, led In price last month at
$1018 per hundred, while Danville led
all other markets at Sill per hundred.
Evening star., 1932-02-02
BANKERS IMPRESSED
BY RAIL CREDIT AID
Rapid Functioning of Reconstruc-
tion Finance Corporation
Arouses Comment.
By the Associated Press.

By the Associated Press.
NEW YORK, February 2.-Railroad
banking quarters were impressed today
with the rapid steps being taken by the
Reconstruction Finance Corporation to
protect the railroads.
1t was learned that Walter w. Col
pitts Of the engineering firm of Cover
dale & ColpittS had been asked to
accept an advisory position with the
Reconstruction Corporation and that he
had left for Washington to discuss the
matter with the corporations officers.
At the same time, E. G. Buckland,
president Of the Railroad Credit Cor
pOratlOn. was planning to go to Wash
ington to discuss with Gen Charles G.
Dawes the matter of co-ordinating the
activities Of the railroad credit organi-
zation with the Reconstruction Cor
pOratiOn
The Railroad Credit Corporation was
organized to collect tie increase in
revenues from the higher freight rates
which went into effect January 4 from
which to make loans to needy carriers.
At the office of Coverdale g. Colpitts
it was said that any information as to
Mr.. Colpitts' probable activities with
the Reconstruction Corporation would
have to come from Washington.
CoVerdale & Colpitts has been promi-
nent in railroad reorganizations. The
firm made report on the Chicago,
Milwaukee & st. Paul in 1924, on which
the road based its decision that re-
ceivership was the only method of
solving its problems at that time The
firm has more recently taken a hand
in the Affairs of the Seaboard Air Line.
Evening star., 1932-02-02
February Outlook.

NEW YORK, February (SpeciaD. -
II the precedent of the past two years
is to be followed, the stock market
should advance during February. In
1880 it reflected the belief at that time
in short period of depression, with a
revival in industry in the Spring. This
proved to be bad judgment and led
to ill-advised speculation which cul-
minated toward the end of March. In
1881 there was an average gain in
stocks in February of nearly IS points,
one of the best monthly performances
Of the year. 1t was followed by over
three months of liquidation, during
which the averages made net decline
OF SIS points.
Conditions now are quite different
from those of year ago. Securities
have been liquidated, with most of
them below their intrinsic values. The
financial community feels there is
leadership in Wall Street and in Wash
ington, whereas last February senti-
ment was extremely bearish. Great
gains have been made in correcting
economic conditions that had to be ao
justed before a recovery was possible.
The main thing is that the psychology
of the public has improved.
Evening star., 1932-02-02
Grain Market

BY the AsSocia ted Press.
CHICAGO, February Grain prices
here averaged lower early today inf1u-
enCed by setbacks in Liverpool wheat
quotations and by indications that the
recent cold wave did relatively little
damage. Liverpool reported wheat de-
mand insufficient to sustain advances.
Opening at "a off to "A up, Chicago
wheat futures afterWard underwent
sag all around and then rallied. Corn
started Is to as down and subsequently
turned upward.
Tending to check buyers Of wheat
were comprehensive reports showing
that although in some places the sud-
den freezing temperatures experienced
Of late did more or less harm to the
domestic Winter crop, the total injury
was not severe. Out of 36 points re-
porting, 81 expressed an opinion that
no damage was done indicated
some damage, and were uncertain.
Experts agreed, however, that the crop
was unSeaSonably far advanced in
growth and sensitive to adverse factors.
Wheat traders kept a watchful eye
on war developments, but most of the
time appeared to be disposed to await
definite evidence that other powers
than China and Japan were becoming
directly involved. On the other hand,
concerted moves for peace had little or
no immediate market influence. Bears
derived some advantage from estimates
that stocks of wheat in the United
States totaled 2OO00O,0O0 bushels on
farms. 205, 100000 bushels in the visible
supply and 255,00O,00o bushels else
where
Evening star., 1932-02-02

to justify the opinion that final settle
ment of the international debt problem
is bound to have a Salutary effect upon
all international markets.
A substantial profit is expected to be
shown by Westinghouse Electric in 1882
if the same amount of business is done
as last year, according to Andrew W.
Robertson, chairman of the board.
Mr.. Robertson bases his prediction
upon the marked reduction in expenses
rather than an increase in incoming
business He estimates the loss for
1881 from all operations at S3250 900,
adding that the financial position of the
company continues very satisfactory,
from the fact that current assets are II
times greater than current liabilities.
Declaration of a per cent dividend by
Siemens Halske. leading German cleo
trio manufacturing concern. means that
the 1,000-year debentures placed in the
United States to the amount of Sl4,-
100000 par value will receive S36 per
S400 debenture as compared with a
minimum Of $24
OF the total about 10 per cent is un-
derStood to nave been subscribed by
General Electric at the original offer
ing price of 1888 per S400 bond. At
prevailing quotations the debentureS,
which are really nothing more than
non-Voting common stock with a mini
mum return of per cent, or $24 on
$4OO par value, yield almost 10 per
cent.
The total debt of the nations is con-
seryatiVely placed at S15O.000, 600 900,
equivalent to SIS for each man. woman
and child inhabiting this planet. If
account is taken of the fact that half
of the population could not possibly
contribute much toward the productive
capacity Of nations, and that half of
the remainder, comprising women and
children, who do not contribute either
toward enhancing the productive pow
ers of nations, one is forced II conclude
that the debt has assumed unwieldy
proportions.
curious situation presents itself
when one considers that most of the
debt Is payable in gold. and that the
latter amounts to about one-f1fteenth
of all the obligations outstanding How,
then, can payment be made in gold,
the only medium in which redemption
is called for?
Copyright. 1882. by the North American
Newspaper Alliance, 1nc)
Evening star., 1932-02-02
Everybody's
Business
Western Eurote Held Too
Occub,ed NotO to Se7-
ous7y OPPOSE japanese
Move, but May Shop
Plans Fut,hty,
BY DIR. MAX WINKLER.

NEW YORK, February 2 (N.A.NA). d.
Strength in the securities market in
the course of yesterdays trading may
be attributed to two definite develop
mentS. One of these is the settlement
of the railway wage question. The other
is the reported agreement among the
leading western powers and the United
States in regard to Japan's venture IN
Manchuria.
The Far Eastern empire could not
possibly have chosen more opportune
moment to create disturbances. West
ern Europe is too much occupied with
various problems to be in position to
oppose seriously JapanS move. Con-
certed action among the powers only
can convince Japan of the futility OF
her policy.
Moreover, it should enable Europe to
work out satisfactorily the other prob
lens with which she is confronted.
This should have a very favorable effect
upon sentiment which in turn should
result in more tangible improvement in
business.
Amid the rumblingS of war in the
Far East the nations are expected to
convene today at Geneva to talk on
disarmament. The effects of the Sino-
japanese disturbances have been a
moderate increase in the purchase of
American commodities from the Far
East. Nevertheless, those who look for
a pronounced gain in the consumption
Of American goodS as result of the
conflict are likely to be disappointed,
even if it should be possible to local!ze
hoStilitieS.
The average dividend now being paid
on common stocks of United States
transportation systems is about 50, or
the lowest in more than a generation.
Earnings last year were placed by
Daniel willard, president of the Balti-
more & Ohio Railroad, at SLOT a share,
the smallest figure ever reported. The
worst year in railway history from the
ninetieS until 1881 was 1885, when the
figure was $l.53.
The various measures adopted to aid
the carriers are not expected to result
in spectacular improvement in the price
of railway shares, but should improve
materially the status of the fixed in
debtednesS of the various systems.
The action by the United States Gov
eminent to balance the budget is gen.
orally approved in banking circles, ac-
cording to Col. Allan M. Pope, head of
the First National-Old Colony Cor
poration. Col. Pope expresses hope that
municipal governments and other tax
ing subdivisions will emulate the eff
forts made by the Federal Government.
Agreement on the part of Germany's
creditors to postpone short-term ad-
vances to the Reich has had favor
able effect upon German internal securi-
ties. bonds as we'll as stocks. Material
gains have been registered throughout
the entire list. 1t is significant to point
out that German internal bonds-that
is those scheduled to be paid in reichS-
marks-are appreciably higher than
corresponding dollar bonds.
On the other hand French prices
have not Jared so we'll. Attempts to
hold last months gains are meeting
retarding influences and even French
government issues continue to hover
near their depression lows. 4 Experience
during the past few years would seem
Evening star., 1932-02-02
BY CHARLES F. SPEARE.
Special Dispatch to The Star

Special Dispatch to The Star.
NEW YORK, February with
agreement reached on the 10 per cent
wage reduction controversy, the rail-
roads of this country may now be said
to be entering the third phase in their
financial affairs produced by the de-
preston and one likely to bring a per-
manent and favorable change in their
credit status.
The first phase carried through the
year 1880 when, in spite of reduc-
ton OF nearly 40 per cent in their net
operating income from the peak of
1929, railroads went along on the mo-
mentum of the previous three years,
paying regular dividends and wages
and spending at about the normal an
nual rate for betterments and improve
ments. The second phase was that
obtaining in 1881, when it became clear
to railroad management that they were
facing the most severe crisis in their
history, and when 80 per cent drop
in net operating income compared with
1880 forced them to severe adjust
ments in dividends and in the employ
ment of workers.
Dividend Reductions.
During 1881 no less than 35 car
rierS reduced or omitted their ClVl-
dends OF this number, l3 entirely
passed dividends on their common
stocks. The same number were COM
PEELED to abandon dividends on both
junior and senior shares. 1t is inter-
eSting to note that the amount in
volved in these dividend changes was
at the annual rate of S200000,000, or
almost exactly the sum of the saving
which will be made by the 10 per cent
cut in wages just announced. There
are several other railroads that are yet
to reduce their dividends in spite of
the advantage to operating income de-
rived from the lower wage scale, SO
that eventually the cut to be taken by
railroad shareholders, to say nothing
OF holders of bonds in default, will
considerably exceed that growing out
of the wage reduction.
In this third phase OF the railroad
situation there are other constructive
factors TO be considered than those di-
rectly involved in wages For the first
time in railroad history wage adjust
ment on a big scale has been accom-
plished without a strike. 1t inaugurates
what is believed to be new era in
the relationships between railroad cap
ital and railroad labor. The prolonged
conferences in Chicago were marked by
dignity and discipline on both sides
unknown in previous controversies OF
Evening star., 1932-02-02
JANUARY DECREASE
IN VALUES ANALYzED
Rail Stocks Score Gain for Month.
but Other Groups
Sell Off.
Special Dispatch 10 The star.

Special Dispatch TO The Star.
NEW YORK, February 2.-The mar
ket value Of 100 representative common
stocks declined 81 per cent in January
to SlO,334, ,406,O00 at the end of the
month, according to the monthly COM
putation Of Frazier Jelke & Co. The
depreciation of s2eO,O27O 900 compares
with a drop of sl,974 ,755 900 in Decem-
Der, a loss of sl,571 .694 900 in Novem-
Der, a gain OF sl.l98,0l6,OOO in October
and a decrease Of SIS, $50, $50 900 in Sep
tember At the extreme lows of De-
cember IT the group was selling at So
858OO1 900.
In January five Of the 13 subgroups
advanced and eight subgroups declined.
The largest gain in dollars was in the
rails which advanced Sl23,470,000, or
90 per cent. The amuSementS ad-
vanced 1875 per cent, the railway equip
ments, lis per cent: the miscellaneous
industrials, per cent, and the mer-
chandizing stocks, IL per cent.
The largest loss in dollars was in the
electrical equipment issues, which de-
preciated $3.50 900 600, or 1879 per cent.
Other declines were IT per cent in the
motors, 63 per cent in the oils, 81 per
cent in the steels, 80 per cent in the
chemicals, 81 per cent in the utilities,
1.9 per cent in the foods and eight
tenths Of l per cent in the mines.
Evening star., 1932-02-02
BUILDING RECORDS
| HIT NEW LOW MARK
Reports for 1881 Show De-
crease of 27.6 Per Cent
in Floor Space Ordered.
BY CHAS. p. SHAEFFER,
Associated Press Business Writer.

Building activity during 1881 was at
the lowest level of any postwar year
On the basis Of calculation by the
F. w Dodge Corporation, the volume
Of floor space contracted for during
the year amounted to 359, 100000 square
feet, or a decrease Of 276 per cent, as
compared with the previous year. The
records of the corporation embrace the
region east of the Rocky Mountains,
comprising 81 States.
The years figures show decline OF
81 per cent when compared with the
peak year Of 1923, when total volume
of 959,0000 900 square feet Of space was
contracted for.
In the table that follows the trend
of building is given by the corporation
covering the last l3 years. In this
connection it was said that the volume
of construction during the four years
from 1925 to 1928, inclusive, was ex-
ceptionally large, due in considerable
measure to the era of speculative
building The comparative low level
since that time has been partly due to
elimination of this
Evening star., 1932-02-02
BIC COTTON ORDER
BY JAPAN PLANNED
Trade Interested in Report
That Huge Purchase
Is in Prospect.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 2-The tex
tile trade read with interest yesterday
that Japan planned to place huge or
ders in Cairo for Egyptian cotton and
that nearly thirds of the weekend
exports from our Gulf ports approxi-
mating 10000 bales of cotton, were des-
tined for the Orient While the cotton
trade was evaluating this news cables
came from Shanghai and Tokyo telling
of the positions Of the silk industries
there.
Long before the fighting around
Shanghai began, American mills con-
sumption of China Shanghai silks de-
clined This was due to the very un-
satisfactory position of the industry IN
that vicinity. Most failures in Shang-
hal have been closed for months and
the silk offered there is mortgaged by
native banks.
In Japan there is a determined effort
on the part of some political parties,
notably the Seiyukai adherentS, to urge
the government to purchase all Syndi-
cate silk. Some of the cabinet members
have been telling the rural population
that the government will see TO 1t mat
rice and silk cocoon values are main
tanned on a relatively high plane.
The dried up condition in the cocoon
supply IN recent weeks is responsible
for the lowered operations of the fla
lures, or establishments were the silk
is unWound from the cocoon. The Jap
aneSe department Of agriculture stated
that the total cocoon production for the
calendar year 1881 amounted TO 92,-
$4,000 kamme, or off l27 per cent
from that Of 1880.
An extra cautious credit policy OF
rural japanese banks has caused many
cocoons that otherwise would be held
for collateral to be worked into silk so
the banks thereby can collect on the
loans of defaulted reelerS.
The decline in japanese bonds in the
past few days, or since the Far Eastern
situation reached the proportions OF
war scare, has drawn attention TO the
fact that these bonds have enjoyed a
steadier market than many other for
eign credits.
One reason for this is that Japan has
never defaulted. even temporarily, on
it's foreign obligations and, during the
great war even went so far as 10 credit
interest on japanese bonds held in en-
emy countries. This, together with the
organized support that has frequently
been apparent in Nipponese deScrIp-
tions. has made friends of investors and
spectators.
tcopyright, 1922
Evening star., 1932-02-02
Business Notes

NEW YORK, February 2.-BuSinesS
in cosmetics is spotty, according to deal
erS. In the higher grade and low end
divisions trade has held up proportion
ately better than in the medium and
popular price ranges, it is said. In the
low end goods, the chain stores and
Syndicates are reported to have done
larger volume last year than in 1880.
January sales of local dealers in cleo
trical appliances are estimated at 20 to
25 per cent below the volume of Jan
uary, 1880. Current opinion in the
trade is that manufacturers will find
conditions rather quiet over the next
two months.
The proposed plan of curtailment of
print cloth output, which would reduce
production from 10 to 25 per cent for
months period starting March l, will
be accepted by mills operating the re-
quired 80 per cent of machinery, in the
opinion of local mill executives and
selling agents. They also believe that
further constructive developments will
result from the recent appointment of a
permanent body to study and recon-
mend program to balance supply and
demand.
Evening star., 1932-02-02
Market Influences
BY GEORGE T. HUGHES.

Another lesson Of the great securi-
ties decline Of the past two years Is
the international interdependenCe Of
the markets That there was such in
terdependence is something We have
always known more or less vaguely, but
it came with crushing force in 1881.
A lesson we have not learned is that
it does not do any good to uncover
Scapegoat 1t does not make any df-
ference how this interdependence in
creased during the period Of American
loans. public and private, to Europe.
Whether the loans were justified or
unjustifed, whether they were pru-
dent or reckless, whether eXorbltant
profits were made by the distributors, is
beside the point 1t helps no one TO
belabor the international bankers"
whoever they may be. The only thing
that counts is the fact.
We 90 know now that the suspension
of gold payments by Great Britain,
narrowly ayerted collapse in Germany
and wholesale defaults by South Amer
lea all react adversely on our own
domestic stocks and bonds. For better
or worse, we are involved with the rest
Of the world and we shall not emerge
from our own troubles until We frankly
face that accomplished fact.
In the future our investment pro-
grams must be made up with the in
ternational background in the picture.
1t is not that business at home is di-
rectly affected by events abroad so
much as that the losses incurred by
our fnanciers and business men in for
eign ventures, voluntarily or lnVOlun-
tarily assumed. weaken their ability to
support domestic enterprise. This truth
is easier to recognize in the markets
than it is in trade, but markets react
on trade as well as reflect trade &C
tivitieS.
The modern economic structure is
so complicated that it is often difficult
to distinguish cause from effect, but
of this one thing we can be sure, that
only disaster can result from ignoring
international trend of events. Isola-
tion may or may not be politically de-
sirable. 1t is impossible economically.
(Copyright, 1922