davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-26
Effects Will Be World Wide

The change is drastic one the effects of which
will be felt not only in the United States but in all
countries. 1t points toward permanent nationalist
ton fuctuating dollar is likely to place handicap
on international trade unless way be found
to make international currency adjustments coincide
II will be difficult for other countries to maintain a
fixed relationship between their currencies and gold
while nursue olIr new monetary policy.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-26

change ltS purchasing and oeDt-paylng power during
the succeeding generation"
This does not mean. many have inferred, that
the dollar is to be revalued at a fixed and permanent
price when commodity prices have been restored to
satisfactory level. 1t that the dollar value will
be subject to change at any time in order to stabilize
commodities. In other words, it is to become
modify dollar.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-26
HEAVY SNOW REPORTED

.Two-Inch Blanket Covers VaIpa-
raise; First Fall of Season.
By Times Special
VALPARAISO, Oct. ga two
inch snowfall covered this section
of northern Indiana for the first
time this season yesterday.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-26
Bank CIearings
INDIANAPOLIS STATEMENT
TREASURY STATEMENT

INDIANAPOLIS STATEMENT
Oct. 90
TCon lIisS ''.s.s''..' 81, 1Uo UUU. w
ASSAVo ''''''s'' '..'.-........ f,1io,UUU.UU
TREASURY STATEMENT
Oct. 90
Net Balance for oct. "a. $685., oe5. 456. 90
Misc Int Rev Rpts. ..... 1854 299. 90
Gus. repts (month to datej 1920, O66. Is
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-10-26
Chicago Primary Receipts


Oct. 70
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
ADVANCES SCORED !
IN STOCK TRADING
Market Remains Firm ir
Afternoon-Uti|ity Shares
Are Weak. >"A
BY GEORGE T. HUGHES.

Special Dispatch to The Star.
WALL STREET, NEW YORK, Sep
TENDER 14.-Except for the public util.
tiles, advances were the rule in todays
stock market
The afternoon market was quietel
but very firm. Practically all of the
morning gains were retained, and IN
some cases they were increased. Par
ticular attention was paid to the metal
shares, Anaconda, Kennecott, American
Smelling, International Nickel, Noranda
and Howe Sound. Gold stocks con-.
tinued in favor, with Homestake up
20 points. 1t is this group of stocks
that always comes to the front when
imitation talk is in the air.
Active in First Hour.
Activity was greatest in the first
hour and the gains then were more
uniform than at any time thereafter
Late in the day realizing appeared in
the general list and a part OF the ad-
vance was Cancelled. The metal shares,
however, made their best prices directly
at the end and the market as a whole
left off at a new high on this recovery.
The features as the session drew
toward a close were United States
AAlCitiii6. uP oOllIC o pOlliLS- dllu AlIlcls
lean Smelling, up more than points
The dollar weakened progressively
throughout the day. In the late after
noon francs were up IL points and
sterling up 3 cents. Wheat closed IS to
80 of a cent higher
Mr.. A. Given Credit.
OF the influences that brought about
the upturn in the stock market was,
first of all. the success of the N r.
A. demonstration In this city yester-
day. 1t was impossible to interpret
the outpouring of marchers others than
as an expression Of popular support
of the recovery program and an omen
of its success. Secondly. the wheat
market had given a bullish signal in
the late trading of the day before,
after business on the Stock Exchange
here had been suspended Wheat
added to its gains today and that
helped
Finally. there was the talk of infla-
ton which would not down Appar-
emily inspired dispatches from WASH
lngton. alleging that nothing along the
imitation line would bR done in the
immediate future were ignored. It
was felt that the logic of events would
force the Presidents hand
(Copyright 1888
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
Markets at a Glance

NEW YORK, September IA P).-
Stocks firm: gold and alcohol shares
rally. Bonds irregular; U. S. Govern
ments ease Curb irregular; early ad-
vance checked Foreign exchanges
firm: gold currencies again rise Cot
ton higher; general buying; higher
sterling exchange Sugar steady; Cuban
buying. Coffee higher; better spot de-
mand.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
London Bank Changes.

LONDON September II lP,.-The weekly
the following changes in pourds: Total re-.
serve increased 21.9 600. circulation de-
creased 2.693.0n0. bullion increased ST..
600. other securities decreased 1894 900,
public deposits decreased a191 900 other
deposits increased Hiss. 600. notes reserve
increased 100000
The proportion of the banks reserve =
liability IS 41.16 per cent. compared vi
As "a last week
Rate of discount per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
FOOD INDEX DECLINES
TWO POINTS IN WEEK

BY the ASSOCIATED PTeSS
NEW YORK. September 14.-Dun &
Bradstreets food index, after holding
at Sl.91 for two successive weeks, dipped
to 81 SO in the week ended September
H. This is the lowest level since June
49, when the index stood at $1.87, but
represents an increase of 81 per cent
over a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
METAL MARKET.

NEW YORK. September IA Chopper
quiet; electrolytic spot and future, asked.
Tin firm; SPOT and nearby. 1925: future.
1927. Iron quiet. unchanged Lead steady
spot New York so: East St Louis. 435
Zinc quiet; East st. Louis spot and future,
65a410. Antimony spot. 6.S1.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
MONEY MARKET.

NEW YORK September IA 0P.-Call money
steady: "a per cent all day.
Time loans steady; 60 days. u: 90 days.
"a; four months. "a five months. q; six
months. ] per cent.
Prime commercial paper. ia.
Bankers acceptances, unchanged.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
HEADS FOODS SUBSIDIARY.

NEW YORK. September IA L49-Ed-
win T. Gibson has been elected presi-
dent of Baker-Bennett-Day, Inc, sub
sidiary of General Foods Corporation
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
NEW YORK BANK STOCKS
NEW YORK. September IA Py.-
Over-the-cCunter market:

Quotations as of :, pm
BANKS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
SILVER QUOTATIONS..

NEW YORK. September IA CP,-Bar silver
firm: ;. higher at 3si4.
LONDON. September IA fP-Bar silver
firm; 116 HIGHER at Is Sled
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
LONDON MONEY RATES.

LONDON. September Il fp,.-Bar gold,
1905 I'd.
sbo Mn Bills pe tbre cent month bls rats
per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
PRODUCE EXCHANGE

NEW YORK, September il lP-Produce
Exchange stock list:
Sales in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
TRUST COMPANIES

Well established financial institution
has position open for two young men in
fiscal department. Must he we'll com
mendet or have an established bond or
stock clientele. Salary and commission.
Address Box 3O5-B. Star office.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-09-14
AZ Per Cent Insurance Gain Noted.

AWAY . ~. -. LASHdhSC 1EdulHS.
On the Washington Stock Exchange
today bonds were again the leaders
in a light turnover. Washington Gas
IS, 1860, figured in $500 sale at
1861. Washington Gas IS, series B,
appeared on the board, $1,000 selling
at 1925. while $1,000 Washington Rail-
way g. Electric As changed hands
Mt 87la
Capital Traction stock figured in
no sales today, but the stock closed
with II offered and 15la asked, the
highest asked price in a long time
The recent merger progress is the
cause of the wide quotation spread
Peoples Drug and American Telephone
are now being quoted eX-dividend.
Fifth Avenue Bank, New York. has
declared regular quarterly dividend of
Sc a share, payable October l to stock
of record September 80.
The Treasury Department has in
vted tenders for S10o,00O,000 Treasury
9l-day bills to be sold on a discount
basis to highest bidders. Tenders will
be received up to 2 o'clock pm, Sep
TENDER 18.
Evening star., 1933-09-30
Chicago Grain
BY the Associated Press.

CHICAGO. September General
commission house selling efforts that
met no adequate demand turned grain
prices downward early today. Buyers
gave indications Of desire to await
settlement of national monetary policies
before. undertaking extended commit
ment. Opening unchanged to 70 lower,
wheat afterward declined all around
Corn started unchanged to "a down,
and subsequently sagged further.
Wheat fell almost 2 cents a bushel
before rallies set in Much of the SELL
ing that accompanied the price break
came from Eastern sources. Weakness
shown by securities had a noticeable
bearish effect, that was modified later
when securities rallied.
A recovery Of more than ~ cents in
wheat values as compared with early
bottom figures took place, and was sue
ceeded later by additional upturns. The
first unofficial monthly crop report was
issued today, and was generally con-
strued as somewhat bearish, indicating
that estimates of domestic wheat yields
had been enlarged since September !.
In various quarters, however, it was sug-
geSted that the forthcoming Govern
ment crop report would be Of an op-
posite tenor. Primary receipts Of wheat
today were the smallest Of the season.
Corn and oats prices largely reflected
wheat action.
Provisions went lower with hog values.
Evening star., 1933-09-30
CURB PRICES RALLY
ACTIVELY AT CLOSE
Metal Group Leads Gains
Which Later Extends to
All Sections.
Dispatch to The Star.

Special Dispatch to The Star
NEW YORK. September 30.-The
Curb Exchange rallied vigorously in the
closing trading today, on increasing
volume, after an hour and q half Of
slowly sagging prices.
All sections of the market partici-
pated in the recovery. led by the metal
group, where the gold4nines were ac-
lively bid up. Large blocks Of Tech
Hughes and Wright ht-Hargreaves mining
came out in the last half hour at frac-
tionally better prices. Lake Shore
Mines crossed 40. Newmont Mining
opened sharply higher, reacted and
then came back near the close to show
q 2-point gain. Bunker Hill-Sullivan
Mining, silver issue, ran up 3 points.
The oils, utilities and the liquor
shares all moved up briskly on the late
upturn. Electric Bond g. Share showed
a gain of point at the end.
The oil stocks held firmly. Gulf OIL
Of Pennsylvania and Humble Oil made
the best showing on the upside. Stand
ard Oh OF Indiana was steady. Creole
Petroleum, which hit a new high yes
terday at 10s, was active and a shade
lower today.
The utilities resisted the selling with
some success. Electric Bond & Share
opened on a block of 1900 shares at
171s, up more than a point, lost the
entire gain and then recovered in the
last hour. Consolidated Gas of Balti-
more advanced point. American Gas
q Electric eased after publication OF
Its earnings for the IL months ended
August 81. showing net income OF So
982 598. equal to S182 a share on the
common, compared with s13.297, 500. or
$2.69 common share, in the previous
II months. August net income was
s817.320. against $664,051 In the same
month of 1882.
(Copyrght 1933)
Evening star., 1933-09-30
BOND LIST TURNS Z
/. DEFINITELY LOWER
Dollar DevaIuation Rumors
and Expected Defaults
Offset Gains.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, September 30.-Irregu-
/ lar at the start, bonds in today's ses-
sion on the Stock Exchange turned
definitely downward.
Revival of rumorS in Washington OF
dollar devaluation. along with ap-
preaching October l interest and prin-
cipal defaults. more than Offset con-
structive market factors. such as the
betterment in various industries, like
petroleum and metals; the decrease in
boarding, and the plan to increase
credit to quicken capital expenditures
United States Governments opened
firm and moved higher in the first half
hour then reversed their initial ten
dency and lost all or more than their
earlier advances.
Reich Defaults Due.
Seven Reich issues will default inter-
est here Monday. They are Berlin City
Electric IS Of 1855, Berlin Electric Ele-
waited 6l2s of 1856, Berlin 6las of 1850
Rhine-Westphalia Electric Power IS OF
1855, Ruhr Chemical IS of 1913. State
of Hamburg IS of 1916 and Unterelbe
Power g. Light IS of 1883 Most OF
these issues softened today, though all
of them long have discounted the forth
coming default.
Receivers of the Ann Arbor Railroad
subsidiary of Wabash. announced to-
day that July l interest on the first
mortgage As will be paid from earn
ings. but that no provision has yet been
made to meet october l interest re-
quirements Both Ann Arbor and
Wabash issues have been strong In re-
cent sessions, perhaps forecasting this
development.
especially the SIS of 1850, were a shade
easier today, following their sharp
squirt late Friday on the announcement
than October interest would be paid
This interest was not earned because
Of the Missouri Pacific Railroad bank
ruptcy and consequent discontinuance
of payments by it to Terminal Shares
Inc, whose notes also are Al
leghany assets. If Chesapeake & Ohio
common stock, Alleghany's most val
liable collateral, does not improve mar
ketwise by April l, 1884, it is likely
that, owing to indenture provisions the
SIS Of 1850 will again not earn their
interest charges.
Oil Issues Heavy.
Petroleum debentures were not in
clined to follow up their rise of Friday
despite the basic improvement in th5
oil industry and the general belief that
some sort of world oil production pact
is being completed. Steel debentures
also slackened, but there was some bet
terment in the loans of rubber COM
panies.
Local fractions were less in demand
today, with Third Avenue Railway ad-
justments off more than point and
New York railway incomes virtually
unchanged.
st. Paul adjustments most of the ses-
sion were down fractionally and this
was true of the gold" SIS. Chicago &
Northwestern 434s. Denver g. Rio
Grande 4s and Rock Island As behaved
similarly.
Atchison general As moved within a
narrow range rather restlessly as Union
Pacific As fractionally firmed. Consoli-
dated Gas IS hardened as the 4l2s
softened American Telephone issues
moved minutely Standard Oil of New
Jersey SIS yielded L point without diff
Guilty.
(Copyright. 1933D
Evening star., 1933-09-30
CANADIAN L0ADINGS
SHOW LARGE GAIN
Reflect Movement of Commodities
Bank Clearings Also Climb,
Bond Prices Easier.
Special Dispatch to The Star.


OTTAWA, Canada, September 30
Car loadings in the Eastern division Of
Canada reflected marked improvement
in the movement of commodities during
the early part of September. this gain
being IL per cent over the corresponding
period of 1882.
The gain in Dominion bank clearings
for the first part of September over a
year ago was more than per cent, the
total in the week ended September 81
being 1924 000, 900. compared with $249,-
100000 in the corresponding week Of
1892.
While high grade bond prices were
moderately easier this month than in
August, the gain over the third quarter
of 1882 was pronounced. The yield on
four Dominion government refunding
bonds averaged about per cent in the
first three weeks of September, COM
pared with ATS per cent year ago.
This fluctuation in the yield represents
a considerable advance in prices, the
bid quotations for Az per cent refund
ing bonds at present being above par.
Copyright. 1933D
Evening star., 1933-09-30
GOLD PRODUCTION
OF WORLD MOUNTS
August Output Totals 1894, 900
Fine Ounces, Compared With
1882, 900 in July.

By the Associated Press
NEW YORK, September 3o.-World
gold production increased in August,
reports the American Bureau Of Metal
Statistics.
Output totaled 1,ss4.ooo fine ounces
as compared with 100000 in July and
l,935,0o0 in June. Production in the
United States was 1s1 900 ounces, a
gain OF 5000 from July. The output
was $4,000 ounces.
Canada's August total was 250,000
ounces, the same as In July. but de-
crease Of 1000 ounces from June
South African mines turned out 1885,
600 ounces compared with $4,000 in
the previous month.
Evening star., 1933-09-30

Comparisons are. to actual dates; not to
close Of corresponding weeks: In thousand
bales): o .eo.
two years ago. 745: for the month. > O1S:
year ago. 1850; two years ago .654; Tor
season. 500; year ago. 2.3s6' two years
Port receipts for season. 1.7s5; year ago.
14Sg: two years ago, 1.521.
Overland to mills and Canada for the sea-
SON. 1O4: year ago. 80; two years ago. %.
Southern mill takines for the season. 639:
year ago. 517; two years ago. ass;
Interior stocks in excess of August l. 272;
year ago, 291: two years ago. ~
Foreign exports for week. 212: year ago.
1859; two years ago. 255; for season. $780,
year ago 1120: two years ago, S24.
Northern and Canadian spinners' takings
s9t fer the week 80; so6 year ago. a7 Tor season.
Statement Of spinners' takinss Of Amer
ican cotton throughout the world:
This week. 2,611; year ago. 269; two
years ago 229.
Total since August l.. 2.194; year ago.
1920: two years ago. 1877.
Statement of worlds visible supply:
Total visible this week. 1876; week ago.
$500; year ago. 9.35S: two years ago.
1928
Of this total American. this week. 1890;
week ago. 6,954; year ago. 1855: two years
ago. 0S5
All other kinds this vice. 1916; week ago,
1.546: year ago. .722; two years ago. S43.
Visible in United States this week. 5.165;
Visible in other. countries this week.
3.711; year ago. 3.695.
Evening star., 1933-09-30
IMPROVED FEDERAL
FINANCES HAILED
Proponents of Initiation See
Safeguard in Lowering
of Deficit.
By the Associated Press.

By the Associated Press.
NEW YORK, September 30.-Those
conservative bankers and economists
who have been afdicted with a sort of
imitation -phobia now are taking some
real comfort in the Governments i'm
proved fiscal position.
Those wholly uncontrolled infiations
which have torn through several
countries at various times in the past
have almost all resulted from in
ability Of Government revenues to catch
up with Government expenditures.
As deficits widened the Governments
credit vanished and there was finally
no recourse save the printing press.
That was the situation which led to
our issue of Civil War greenbacks. And
that was the nemisis Of the old Ger
man mark.
Deficit Cut Sharply.
But the sharp reduction Of our Fed
eral deficit in recent months has de-
picted a Nation in control of its
finances, and with such control in the
saddle, proponents Of imitation argue,
restricted and salutary imitation
should be possible
Nevertheless, it is acknowledged that
infiationary steps must be taken with
care, If the market for Government
bonds Is not to be harmed. The dip In
gilt-edged securities a few days ago,
when imitation minded Senators were
making known their views in WASH
ington, was indicated by conservatives
as significant. If the Government in
tends to refund any substantial part Of
its Indebtedness, Wall Street authori-
ties say, it is apparent that it must
handle the imitation problem skillfully.
Report Is Reassuring.
The Federal Governments financial
statement for the period of July / to
September 16 makes reassuring read
ing. compared to the preceding record.
Receipts exceeded those Of q year pre-.
viously by S212 2,000, 900, while expendi-
lures were $271 100000 less. As re-
! suit, the deficit for the fiscal year
which started July l was on Septem-
ber 16 only 1929 000, 900. compared with
$712 100000 in the like period Of last
year.
The Governments huge public works
program, however. will require consid-
cradle financing as it progresses. The
public debt on September 16 was $23,-
061 900, 900, which, while about $685.
000, 900 above the total at the end Of
the 1929-30 fiscal year, was still So
536 900 900 below the postwar peak
reached in 1919.
Evening star., 1933-09-30
New York Cotton
BY the Associated Press.

BY the Associated Press.
NEW YORK September 30.-Cotton
futures opened steady, 8 lower to 4
higher, on steadier Liverpool cables,
which was offset by Southern selling.
October, 9.66; December, 9.8S; January,
9.92; March, 1912; May, 1927; July.
10.47.
Trading was quiet at the opening
with selling attributed to New Orleans
and the South. absorbed by covering
combined with local buying and mod
crate demand from trade sources.
Prices steadied up a few points right
after the call, from 9.87 to 9.91 for
December, but this bulge met increased
hedging and the market was barely
steady within a point or two OF yes
terday's closing quotations at the end
Of the first half hour. .
Liverpool cables said that continued
hedge selling had been absorbed by
trade buying and calling In the mar
ket there and houses with Liverpool
connections were moderate buyers here
at the opening.
Evening star., 1933-09-30
s6.941.5OO GOLD SHIPPED.

NEW YORK, September 30 R.-The
New York Federal Reserve Bank yes
terday reported shipments of $685.
TOO in gold to France and $274 800 to
England, all taken from stocks ear.
marked for foreign account. A total
of 24,331 ounces Of fine gold recovered
from natural deposits was also reported
as an export.
Evening star., 1933-09-30
GLASS REVIEW HOPEFUL.

NEW YORK, September 80 LR.-
The American Glass Review reports
that September has displayed a con-
slant level of demand that was not to
be found anywhere in the glass manu-
featuring industry in the like period of
1882. October will see the beginning
of many encouraging reactions through
out the trade, the publication adds.
Evening star., 1933-09-30
DOLLAR MOVES LOWER
IN DEALINGS AT LONDON
BY the Associated Pre-!

BY the Associated Press.
LONDON. September 30.-After OPEN
ing easier today at sa75s4 the Amer
lean dollar lost ground in early trad
ing, but after touching S4.76la, i'm
proved to close at s4.75l4
Yesterdays final rate was $47334 to
the pound
The French franc, meanwhile, closed
fractionally weaker at 1884
Evening star., 1933-09-30
TIDEWATER OIL BOARD
VOTES USUAL DIVIDEND
By the Associated Press.

By the Associated Press.
NEW YORK, September 3o.-Direc-
tors OF T1dewater Oil Co. yesterday de-
clared the regular quarterly dividend
Of $1.25 on issued and outstanding
per cent accumulative, convertible pre-
1erfed stock, payable November IS to
stockholders Of record October On
Evening star., 1933-09-30
NEW YORK STEEL PRICES.

NEW YORK, September 80 R-
Steel prices per 100 pounds, fob.
Pittsburgh:
Blue annealed sheets, hot rolled.
S1.90.
Galvanized sheets, S285
Black sheets, hot rolled, $2.25.
Steel bars, SITS.
Evening star., 1933-09-30
PROFIT REDUCED,

NEW YORK, September 80 R.-Net
income Of Northern States Power Co.
(Delaware) and subsidiaries for the
year ended August 81 was $6,446, ,024,
against $s,068,514 the year before.
Evening star., 1933-09-30
CHICAGO STOCK MARKET

By the Associated Press.
CHICAGO. September 30.-Following
is the complete oficial list of transac-
tions in stocks on the Chicago Stock
Exchange today:
Evening star., 1933-09-30

az Dlvidsnd rates N dollars based on last
diyidend. tPartly extra. tPlus 4Gs in stock.
Payable in cash or stock. Payable in
stock. Adjustment dividend. Plus So
In stock. Plu3 So in stock h Plus IL
N N stoek s Plus @ 2% in stock; K Plus 1oss
in stock D Paid last year~no regular rate.
Evening star., 1933-09-30
SILVER QUOTATIONS.
NEW YORK, September 30 (P.-Bar
silver steady, e higher at $685..
PRODUCE EXCHANGE

NEW YORK. September 80 Qp.-Produce
Exchange stock list: "N"Se
Evening star., 1933-09-30
INVESTMENT TRUSTS

NEW YORK. September 80 R.-
Over the-counter market:
Evening star., 1933-09-30
FOREIGN BONDS.

ww-With warrants.
xw-Without warrants.
New.
wi-When issued,
Evening star., 1933-09-30
Cotton futures closed very steady. to
Hester's Cotton Statement.

Spot steady: middling. 9.95.