davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
REVENUE MEN STUDYING
Glasses on Income Tax Laws Are
Held in Federal Building

School days are here again for
employees Of the federal internal rev.
enue department. The government
revenue aids have been attending
classes" at the federal building
with w p Long and H. F. O'NeiIl
Of Washington acting as instructors.
School opened Monday and ex-
anlinations we're held today. Income
tax laws and accounting we're the
principal subjects. E z. Neal of
Noblesville is collector for the dis
trict. and w H. Smith of Fountain
town is assistant collector.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20

denied government charges that
liquor had been sold at the barbe-
cue.
Johnson, who told the court he
was a comedian, and succeeded in
proving it. to the delight of court
room spectators. was reproved once
by Judge Robert c. Baltzell for his
replies to questions, Baltzell re-
Winding him, You're not on the
stage now"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
TAX BILL BEGGED
IN TARIFF BATTLE
Famous Hands

in contract bridge his
tory will be presented
readers of The Times in a
series on Contract Bridge
as the Experts Play It." by
william E. McKenney, sec
rotary of the American
Bridge League. The series
starts next Monday.
All the important bridge
champions selected a ia
vorite hand for use in this
series. BY reading these ar
ticles, you will learn to
recognize the plays which
have made champions in
the various national tour
naments.
Learn TO grasp the
significance of unusual
plays and situations by fol-
lowing this new series In
THE TIMES
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
Leap Year Bride!' It's a
Great New Times Serial

Cherry DIXON asked Dan Phillips to marry her. She
49, beautiful and rich. Dan hadn't cent beyond
his ceekly salary Cherry knelC he aCouldn't ask her
to gre up the lurules to which she accustomed for
the little he could offer her.
So Cherry took matters into her oicn hands. She
proposed to DonA-and became "LeGp Year Bride"
That's the title Of the exciting serial By Laura Lou
Brookman. Watch for it, starting merit Wednesday,
Nay rs, IN The Times.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
AVIATOR WANTS BODY
OF CLARKE ExHUMED
Attorneys for Lancaster to Present
New Plea Monday.
ByUnhed Press

By United Press
MIAMI, Fla. May 20.-Attorneys
for Captain William N. Lancaster.
British aviator under indictment
charged with Staying Haden Clarke.
young Miami journalist. announced
today they will present motion to
Circuit Judge H. r. Atkinson Mon
day seeking to have the body Of
Clarke disinterred.
Clarke was fatally shot on the
early morning Of April 81 in a
sleeping room he occupied with
Lancaster at the bungalow home of
Mrs. Jessie NJ. Keith Miller. Aus
tralian aviatrix. for whom he had
agreed to write the story of her
career.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
LOAN BANK APPROVED
Last Of Hoover Economic Meas
ures Is Reported In House.

b. Hfffd Pres
WASHINGTON. May 2o.-The
last recommendation in President
Hoover's original program for eco
nomic rehabilitation, the home loan
bank measure. today received a ia
vorable report from the house
banking and currency committee.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
FEAR BOMB, FIND TOOLS
Package Left at Door Of Chicago
Firm; Thief Sent II.
By United Press

81 LHfttd PTfss
CHICAGO, May 20.-when
suspicious looking package was
found at the door of the H. L. Fish
er Manufacturing Company plant,
employees thought it might be a
bomb. They opened it and found
$50 worth Of tools that were stolen
by thief five years ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20

reached st. Louis today the vet
Grams tumbled out of the cars,
whose sides were placarded with
familiar 40 and 8" signs in prep
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
PILOT DIES IN CRASH

Parachute Catches on Wing. Leav-
ing Him Helpless in Ship.
By United Press
BOWMANSVILLE. N. Y, May 20.
Harvey Ogden, chief test pilot for
CurtisS Airplane Company. was
killed today when his parachute
caught on a wing and drifted off
into space, leaving him helpless in
his disabled craft which crashed.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20

aration for a resumption Of their
journey.
All out. change trains for
Cincinnati" sang out w. w. Wal
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
PASS PAY ROLL BILL
House Votes to Keep Records
Open TO Public.

. = . FTTFFW ETFfN
WASHINGTON, May 20.-The
house today unanimously passed
the Warren resolution providing
that the pay roll records of the house
be kept open for public inspection.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
LEIGH TO HEAD FLEET
Admiral viii Succeed schofield a

Admiral Will Succeed SchofieId as
U. $. Commander.
81 United Press
WASHINGTON. May 20.-The
navy department today announced
that = change in command Of the
United States fleet will be made on
Aug. Is when Admiral Richard H.
Leigh succeeds Admiral Frank H.
Schofield as comnander-in in chief.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-20
Policemen on Stand

The defense called several police
officers. not under indictment, who
testified they did not see the de-
PENDANTS or any one else drunk az
the Muncie police ball in 1880. and
that they never had received orders
from Massey. Dale or Ellis TO lay
or any liquor law volators. as
charged by the government.
Drabness o. the latter part Of the
defense testimony was enlivened
Thursday afternoon when the two
proprietors of the PIG Stand. bar
becue, took the stand.
They we're Paul Johnson and Earl
Young. who said they we're actors
for a number Of years. until the
slssw business "went bad Both
Evening star., 1932-11-18
DARK FIRED SALES
OF TOBACCO DRAG
Lynchburg, Va, Market Continues
Sluggish, With Average of $7.36
Paid for 31,056 Pounds.
By the Associated Press.


LYNCHBURG, Va, November 18.-
demand Tor dark fired tobacco on the
Lynchburg market yesterday continued
sluggish, an average of $7.36 being at
tained for total of 1,056 pounds sold
on the open floor.
larger percentage Of inferior to-
bacco than was originally anticipated Is
showing up here, and the buyers are
not buying the lower grades heavily at
present. A great many piles were taken
In by the planters, who expect to offer
them later, warehousemen said.
A moderate break was expected today
the last sale of the week
Offerings were light in volume yes
terday on the bright tobacco markets
of Kenbridge, Petersburg, South Boston
and South Hill.
Average prices paid for graded to-
bacco were:
Orange leaf, B-7-F, 2.2o; Lemon luRs.
X-3-L, 1900; orange lugs, X-4-F, 7.9O.
Average prices paid for graded to-
bacco on the dark fired markets for size
A Q6 to 20 inches long):
Brown side heavy leaf, third quality,
B-3-F A, 1890; fourth quality, B-4F
A, 1850.
Dark side heavy leaf, third quality,
BID A, 11.90
Greenside heavy leaf, fourth quality.
Bag "A, $50; fifth quality, B-5-G
A, 4.40.
Brown side thin leaf, third quality,
C-3-F A, 1910; fourth quality, CAT
A, 7.80.
Mixed side thin leaf, fourth quality,
Gam "A, $50; fifth quality, C-5-M A,
$50
Mixed side of lugs, third quality,
X-3-M, 2.10; fourth quality, X-4-M.
l so; fifth quality, KIM, 1.50.
Greenside lugs, fourth quality, K-4-G,
230; fifth quality, X-s-G, lao.
Evening star., 1932-11-18
MARYLAND STATE SAFE
DEPOSIT GROUP TO MEET

BALTIMORE, November 10 (SpeciaD
Andrew H. Troeger, president of the
Maryland State Safe Deposit Associa-
ton, announces meeting of the asso-
citation will be held shortly at which
the question of cost accounting in rela-
tion to safe deposit vaults will be dis
cusSed
Mr.. Troeger, who is connected with
the Safe Deposit & Trust Co., was re-
elected president of the association at a
meeting held this week.
John w. Backer of the Baltimore
Trust Co. was elected vice president; j.
Albert Bacon of the Metropolitan Saw
ings Bank, secretary, and J. Walter
Hamilton Of the Mercantile Trust Co.,
treasurer.
The officers, together with T. Leon
ard Reeder, Union Trust Co., and John
S. Townsend, Calvert Bank, will COM
pose the Executive Committee The as
sociation will entertain delegations from
nearby cities, including New York, in
the next few weeks.
Evening star., 1932-11-18
SELECTED AS PARTNER
WITH KUHN, LOEB & co.

NEW YORK, November 18 LP).-The
Herald Tribune says Elisha Walker, for
mer president of Blair & Co. and former
head Of Transamerica Corporation, will
become partner in Kuhn, Loeb & Co.
in January.
A. p. Giannini came out of retirement
last year to wrest control Of Trans
america from Walker in a colorful proxy
battle. Since then Walker has been In
retirement from Wall Street.
Kuhn, Loeb & Co. Is one of the coun-
try's most influential banking houses.
Evening star., 1932-11-18
B. & 0. REFINANCING
PROGRAM OUTLINED
Half of $63, $50, 1000 Bonds, Matuc
ing March l, Will Be Paid in
Cash, Letter Reveals.
Special Dispatch to The Star.

BALTIMORE, November 1s-Detan
OF the Baltimore g. Ohio RaiIroad'e
pan Tor meeting its Sos, ESQ. 900 of Az
per cent bonds maturing March i have
oeen sent to the roads bondhoIders bv
George M. Shriver, senior vice presi-
dent. PAeeA-
For the issue as whole, so Der cent
payment will be made in cash and so
per cent exchanged for 5 per cent re-
Iunolng and general mortgage bonds
maturing In 1896. But for the first 10
per cent OF the maturing bonds pre-
sented between November % and De
cenber 22 the company viii paw cash
In fuI. Full interest viii be paid on
bonds deposited from now until March
l, 1883, whether or not the plan is
completed before that date.
The Reconstruction Finance Corno-
ration has agreed to lend the Baltimore
d Ohio $685. 900 Immediately in order
TO make this 10 per cent cash payment.
Later it will lend the remaining sum
SUFFICIENT to make the so per cent cash
payment on the remaining bonds. 1safE
II the amount of bonds asserting
TO the plan by January 8, 1888, is sufi-
cient to declare the plan operative, paw
ment and delivery will be made on
January IT.
In the letter Mr.. Shriver said that
the railroad expected its earnings for
this year to cover all fixed charges, al
though this was not done in the first six
months.
Evening star., 1932-11-18
RAIL WAYS HELPED
BY FALL EARNINGS
Income Expected to Equal
Three-Quarters of Fixed
Charges.
BY FRANK H. MCCONNELL,

Associated Press Financial Writer
NEW YORK, November 18.-Helped
by a breathing spell in the form of a
better-than-average rise in Autumn
earnings, the Nations railroads are en-
tering the final months of 1882 with
fairly good prospects that collectively
they will be able this year to earn
quarters Of their years fixed
charges.
Accepted as Encouraging.
The roads so far have done better
in the second half of the year than in
the first half-nothing, their executives
say, to cheer about-but nevertheless
the performance has been accepted as
encouraging.
For the full year, the Fitch Financial
Service estimates, class / roads will
show gross revenues OF $3,170,000,0 900,
or 25 per cent under the 1881 figure of
$4,237 100000 gross income, consisting
OF net operating income after ordinary
operating expenses and income apart
$517, 100000, against $829, ,078 900 a year
ago. Annual fixed charges, consisting
of interest on bonds and rentals paid,
amount to about $700, 100000.
Facing Winter Months.
The roads now face the Winter
months, when, with snow falling In
much of the country, expenses normally
rise and traffic movement is slowed
down. Moreover, they have been handi-
capped considerably because of COM
paratively light grain shipments. With
wheat and other commodities selling at
present low levels, the farm belt has
not received as large portion of money
as In normal years and has not been
able to buy goods as freely as in the
past.
Railroad authorities state that the
carriers have reduced operating ex-
penses to about as low level as can
be accomplished without sacrificing
maintenance.
Evening star., 1932-11-18
RISE IN COMMODITY
PRICES HEARTEN|NG
Rally in Last Two
Weeks Welcomed by Busi-
ness World.
By the Associated Press

BY the Associated Press.
NEW YORK, November 1s.-The cur
rent issue of Bradstreets will say:
The sharp rally of commodity prices
during the last two weeks is a welcome
harbinger for the business world. Our
food price index moved up 4 cents dur
ing the past week, following hard upon
previous rise of 3 cents. The impor-
tance OF the price situation canEct be
overemphaSized. The integrity of the
entire debt structure and, to a large
extent, the SoundneSS Of our monetary
and credit system is at stake. Unless
prices are stabilized or some improve
ment takes place which can be consol-
ldated, it viii be impossible for the
farmer to continue the service charges
on his obligations.
TO the direct improvement in COM
modify prices may be added two other
pieces OF molrect testimony Of an en-
courag1ng character. The rise in the
price OF wheat has had q distinct and
sanitary effect upon the psychology of
the grain markets. 1t Is up cents
from Its historic lows and trade senti-
menu actively favorS the buying side on
Cne breaks. There seems to be a feel
ing that all bearish conditions have
been completely discounted for the time
being and that markets the world over
are well liquidated.
The second factor is the changed
attitude Of concerns toward new blIsi-
ness. There is an increasing DISPOSE
tlon to discriminate and a refusal To
accept every piece of new business
simply for the sake of bolsterlng volume
80 recently as last Summer new trade
was accepted at almost any terms and
was regarded as mamma finally Welded
py an unpropttious heaven. The ten
oency OF prices in recent months 10
resist further declines has infused a
new courage in business men"
Evening star., 1932-11-18
PULP RATES
TO AID BALTIMORE
Slash in Railway Charges Is Ex-
pected to Benefit Large Shipping
Interests of Port.
Special Dispatch to The Star.


BALTIMORE, November ls.-The re-
duction Of railroad freight rates on i'm
ported and intercoastal wood pulp will
greatly benefit Baltimore, which Is one
OF the most important North Atlantic
ports for the receipt Of pulp, according
to Charles r. Seal, director Of the
Traffic and Transportation Bureau Of
the Association of Commerce.
The lower rates were announced for
the first time several months ago, but
were held up by the Interstate Com
merce Commission following protests by
the transcontinental rail lines, the Fed
eral Barge Line on the Mississippi, the
Mississippi Valley Association and
other interests.
According to Mr.. Seal, the commits
sion has vacated its order against the
new rates as of November 10, when 1t
is expected they will become effective.
Evening star., 1932-11-18
Rising Confidence
OverU. S. Revealed
By Postal Savings
BY the Associated Press.


Postal savings increased $l3,-
280,485 during October and
amounted to $868,047, TAT on the
last day of the month.
Returning confidence in banks
and industries Of the country Is
portrayed by the figures which
were made public by the Post
Office Department as the months
gain compared with a monthly
average increase of $27,238,3
for the first 10 months this year,
and with $27,939,697 during the
IL months of last year.
These savings, however, have
made rapid strides during the
last two years, as evidenced by
the total of $191 1855, ,789 on de-
posit on October 81, 1881, which
had increased to $527, ,130,150 on
the same date a year later.
Evening star., 1932-11-18
INTEREST CUT EXPECTED
ON SAVINGS IN CHICAGO
BY the Associated Press.

BY the Associated Press.
CHICAGO, November 18.-The inter
est rate on savings accounts in banks Of
the Middle West will be reduced from
to 212 per cent after January /, 1888,
the Daily News said.
The question has been under consid-
Grafton by the Chicago Clearing House
Association. The News said the decision
was reached by the Executive Commit
tee, but would not be announced until
the first of the month. The rate estab-
ished in Chicago, it was understood.
would be likely to govern interest rates
generally in this territory.
Evening star., 1932-11-18
BAR SILVER.
FOREIGN EXCHANGE.

NEW YORK, November 18 (P).-Bar
silver easier, 1s lower at 1854.
Evening star., 1932-11-18
q. S. TREASURY BALANCE.
BY the Associated Press,

BY the Associated Press.
Treasury receipts for November 16
were $78,559, ,026.77; expenditures, $685.
$50, 1888; balance, $685., $40, 781 29.
Customs duties for Is days of Novem-
Der were $14.317,67491.
Evening star., 1932-11-18
INSURANCE SALES
DROP IN OCTOBER
Maryland Makes Best Show
Ing in This Territory-Bank
|. CIearings Hold Up.
BY EDWARD C. STONE.

Sales Of ordinary life insurance in
October in the District of Columbia
and in the whole United States were
way below the figures for October, 1881,
Evening star., 1932-11-18

according TO an
: snouncement today
: by the Sales Re-
search Bureau in
Hartford, Conn.
The general de-
crease was expert
enced in every Sec
ton of the coun-
try, with but two
States, Nevada and
New Mexico show
ing increased sales
for the month.
For the country
as a whole sales
averaged 20 per
cent lower than in
the same month
of last year. In
the Capital insur-
anra cn1ne u-pre 25
Evening star., 1932-11-18
INVESTMENT TRUSTS

NEW YORK, November 10 R.-
(OYer- counter market):
Evening star., 1932-11-18

touotations furnished ny W. B. Hibbs co.,
Nominal gold Selling checks
Evening star., 1932-11-18
NEW YORK BANK STOCKS

NEW YORK, November 1s (R.-,
Over counter market:
Quotations as Of IL o'eIoek)
Evening star., 1932-11-18

NoTE-Todays individual edition
Of yesterdays
Evening star., 1932-11-18

NoTE-Todays individual this edition.
aIes Of edition from yesterdays
Evening star., 1932-11-18

Combined Statement.
Combined resources and liabilities Of
the IL reserve banks at the close of
business yesterday were reported last
night by the Federal Reserve Board in
thousands of dollars as follows:
Evening star., 1932-11-18
OUTSTANDING LOAN
TOTAL DECREASES
Reserve Figures Smaller
Than Last Week, but Larger
Than in 1881.
BY the Associated Press.

BY the Associated Press.
The daily average volume Of Federal
Reserve Bank credit outstanding during
the week ending November Is yester-
day was reported by the Federal Re-
serve Banks as $2.205 900, 600.
This was a decrease of $4,000, 900,
compared with the preceding week and
an increase of $169 200. 900, compared
with the corresponding week in 1881.
On November 16 total Reserve Bank
credit amounted to $2,208, 100000, an
increase of 100000 for the week.
This increase corresponds with an in
crease of $4,000, 900 in member bank
reserve balances, Offset in part by in
creases Of $4,000, 900 in monetary gold
stock and S11 100000 in Treasury cur
rency, adjusted, and by decreases Of
S22, 900 900 in money in circulation and
$4,000, 900 in unexpended capital funds,
non-member deposits. etc.
Discounted Bills Decline.
Holdings of discounted bills declined
$4,000, 900 at the Federal Reserve Bank
of San Francisco and the same amount
at all Federal Reserve Banks. The sys-
TENS holdings of United States Treas
ury notes increased $5,000.000. while
holdings of Treasury certificates and
bills declined by the same amount.
November 16 totals Tin millions of
dollars) with changes from g. week ago
and a year ago follow:
Evening star., 1932-11-18

NoTE-Todays individual not Even in this edition
prsv ioso ~ etacS M @ .nS sales Net.
Evening star., 1932-11-18

4Obdl ldpLlIblco OBO1ObCOt
Ratio of total reserves to deposit
combined .................. o24E
Contingent liability on bills pur-
ents W ................. - s4.964
Evening star., 1932-11-18

NOTE-Todays individual not given in this edition
of
Smyrna times., 1932-04-27

tural conditions are given they
probably can be summed up into
one major cause, namely, the fall
ing prices of agricultural products.
Failing prices make a strain on in
dustrial enterprises, but it is
doubly depressing on agriculture.
During period of falling prices,
the prices of farm products fall
first and the prices of Industrial
products lag. This creates a con
dition whereby the prices of the
things the farmer buys are on a
higher level than the things he has
to sell. 1t requires approximately
twice as many bushels of wheat
and quarts of milk now to buy a
given quantity of farm supplies as
it did before the war. This is the
crux of the present agricultural de-
preston. The farmer is not essen
TALLY concerned in high prices nor
in low prices but he is vitally con-
cerned that the prices of the things
he has to sell be on level with the
things he has to buy. But why
do farm prices fall ahead of lndus-
trial prices? When prices are fall
ing, city wages lag and for a con-
siderable period remain at a high
level. This makes a high cost of
distribution of farm products with
the result that the farmer gets a
much smaller portion of the con-
sumer's dollar than formerly. 1t is
an economic principle that the
farmer gets what is left out of the
consumers dollar after the cost of
distribution is taken out. Paren-
thetically I should add that this
principle applies to the manufac-
turer as well as the farmer. Be
fore the war, out of each dollar
spent by the consumer for food the
cost of distribution was about so
cents and the farmer get about SO
cents. At the present time, out
of each dollar spent by the con-
sumer for food the cost of distribu-
tion is about Is cents and the
Smyrna times., 1932-04-27

farmer gets about 25 cents. Most
of the costs of distribution, that is,
transportation costs as well as
wages, can be traced directly or in
directly to city wages. The dis
parity in the prices of agricultural
and industrial production is only
one of the phenomena of falling
prices. The disparity between the
status of debtors and creditors is
even more vital to most farmers.
1t takes about twice as many
bushels of wheat today to pay off
a given farm mortgage as it did
before the war. But this is only
half the story. The farm mortgage
Indebtedness for the county as a
whole has about trebled since the
war and when considered from the
standpoint of the prices of all farm
products, it takes about four times
as many units of farm products
(bushels of wheat, corn, etc. to
pay off the Indebtedness of the av-
ioA4hCL co II d1d
normal times. On the other hand,
the creditor profits. The $500 in
terest, for example, the creditor re
ceives from the mortgage buys
more goods than it formerly did
But the creditor profits only if he
is able to collect his interest. Many
cannot collect. Many creditors in
stead have farms left on their
hands which they do not want.
Falling prices transfer many farms
from the hands Of those who want
them to the hands of those who do
not want them. The payment of
taxes becomes vital during a per-
iod of falling prices. Because tax
es are made up largely of wages,
and of interest and retirement of
bonded Indebtedness, they become
adjusted very slowly to the new
low level of prices. It now requir-
es about three times as many units
of farm products to pay taxes as
during normal times"