davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10

5000 of them that year. Within a
year after taking control of the
plant Cord cleared $265 900 net. And
SO he was on his way.
Other companies fell into his
hands - Lycoming Manufacturing,
one of the largest Independent max
ers of motors; DueSenberg, making
the most powerful, one of the fast
est and most expensive passenger
cars in America, favored by former
Mayor Walker; Stinson Aircraft and
a double handful of other compa-
MES.
The young man took to aviation
first as quick way to get around
to his scattered factories. Then he
learned to fly.
Then he began making airplanes,
throwing a panic into the business
by developing 2Oo-horse power
engine that sold for less than 5000
instead of the usual $4,000. And
then he started his own independ-
ent air transport line.
MEANWHILE his stocks were
AA proving jackrabbits on the ex-
changes, making and losing huge
sums overnight for spectators, CIV
ing the most spectacular kind of
advertising to his cars and planes.
His first listed stock was Auburn
Auto, placed on the Chicago Stock
Exchange Aug. "a, 1925, making its
first sale of 300 shares at a price
of 50.
Inasmuch as the stock sold over
the counter only year before at
So it was not bad price. But
Auburn was to stage performances
as a mature stock much farther
from any rhyme or reason. 1t ranged
in 1880 from 603s to 26334 and in
1881 from 841a to 1851.
Yet Cord himself, it is seriously
asserted, never has had a stock
ticker in his office and never had
private telephone line to any
brokerage house. And the same
goes for his partner, Manning.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
STOLEN GEMS FOUND
HIDDEN IN JAIL WALL
Two Stones Worth S1,75O Are Part
of Montezuma Loot.

Two diamonds we're brought to
Indianapolis Tuesday by Claude
Dozier, state criminal bureau in
vestigator, who recovered them from
the brick wall of the Sabetha
(Kan) Jail.
The stones, valued at $1,750, are
part of the loot taken from w. P.
Montgomery, Montezuma banker. A
wedding ring, set with diamonds
and valued at $3.50, was brought
from a Louisville (Ky) pawnshop
by Karl Burkand, bureau chief,
Monday.
-Four diamonds still are missing,
he reported.
William G. Pearman, his wife,
Effie, and Mrs. Louise Jackson, all
of Terre Haute, are being tried for
the jewel theft and other crimes at
Rockville today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
Gone, but Not Forgotten

Automobiles reported to police as stolen
belong to:
E. L. Shaver Company, 400 North Capitol
avenue, Hupmobile sedan, from rear of 400
North Capitol avenue.
James Harrison, 1905 East Thirty-f1rst
street, Chevrolet roadster, 45-245 from Ohio
and Delaware streets.
Philip j. Cato, 400 South New Jersey
street, Ford roadster, 30-585, from 1900
Riverside drive.
Walter A Perkins, 1865 West Minnesota
street, Ford sedan, $685. from Senate
avenue and Washington street.
Leonard McCleaster, r. R. l, Box 474,
Chevrolet roadster 1928, from Hunter
and Prospect streets.
Burl Williams % North New JERSEY
streets, Chevrolet coupe, 129-365, from 100
South California street
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10

Cord has come to be associated
more and more closely of recent
years with that elder statesman of
Wall Street, Frank A. Vanderlip.
The latter is one of his warmest
friends and advisers, and when the
board Of Aviation Corporation was
revised Vanderlip went in as a di-
rector.
n
TORD himself spends much of
~ his time in an airplane, but
puts in as many days a month as
possible at his home near Los An
geleS, at Balboa Beach.
He goes in for dogs, a police dog
and a couple of wire-hairs, for
horses, and, most enthusiastically of
all, for a small speedboat.
In that he takes kiddish pleasure
in turning sharply in rough water
and giving the back seat passengers
a drenching in spray.
NeXt-Sam Zamurray and United
Fruit Company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
TWO TO BE AWARDED
LIFE SAVING MEDALS
Railway Lineman and Utility EN-
plOye to Be HOnOred.

plOye 10 DE HOnOreu.
Life saving medals we're to be pre-
sented at today to Albert Farmer,
of Terre Haute, Indiana Railroad
employe, and Newton Wray, of
Frankfort, employe of the Public
Service Company of Indiana, by
John N. Shannahan, president of
the Midland Utilities Company
Farmer, a railway lineman, saved
Harry Sumner, 4, of Terre Haute,
from drowning July 81, 1882. Wray
was cited for heroism for saving the
life of Isome Reeder, overcome by
gas while working on a Frankfort
Main, Aug. Is, 1882.
Shannahan also was to present a
bronze plaque to Phil H. Palmer,
the companys division manager,
in connection with an accident pre-
vent contest.
Palmers division, with PIT en-
ployes, operated a year without an
accident. Second prize went to the
Newcastle division, headed by P. A.
Mcleod, and third to L. A. Cutting
of Shelbyville.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10

E. L. Cords fortune extends
from one end of the automobile
industry to the other end of the
aviation business.
gone up during the last month from
Y to IS.
Correspondingly, the Cord hold
ings have gone UP. He put in be-
tween 100000 and 100000 of
money, which had been shrinking,
and the commodities he bought
have attained valuation now of
between $10,000,000 and $12,0O0000.
DUT in position, he steadily has
ID gone ahead. These are things
he has done:
He made himself master of Avi-
alton Corporation, one of the big
four" lines of the industry. And in
buying up stock to around 100000
shares to acquire control, he paid
much less than half the quoted
price today.
He had his best year as an au-
tomobile manufacturer in the very
midst of the hard times. That was
1881, when Auburn sold $4,000 cars
or 10000 higher than its previous
high. True, 1882 was bad year
and 1888 has not been better.
Earnings of the Cord Corpora
ton reached its high mark in 1882,
IS cents a share, and in March IL
declared it's first dividend in his
tory, 10 cents share, quarterly.
BY various methods, including the
convenient one of bookkeeping, Az
iation Corporation for the first quar-
ter of 1888, under Cord manage
ment, was made to show deficit OF
only $4,000, as compared with
$823,000 for the first quarter of last
year.
And in March the corporation re-
ported the first net profit IN its
history, $14,800 for the month.
Cord was an extremely rich man
when the depression struck in 1929
yet his wealth, nevertheless, is de-
preston fortune. He laid its foun-
dalton under the favoring opportu-
nifty of an automobile industry
slump ten years ago.
II
THAT is one of the ways a skill
Il full money man can preserve and
increase his wealth, regardless OF
the times.
These purchases were not made IN
his name only. In the late summer,
1929, he organized the Cord Cor
poration a holding company to uni
fly the fifteen various automobile,
aviation and associated concerns
which he controlled.
After more than three years of
depression its last annual statement
shows 100000 of assets in cash
and government securities.
In addition to part of the cor
porate funds, he invested some of
his own money in commodities, and
that of his partner, L. B. Manning.
1t was the intention to put a third
or half of their ready money in a
form beyond risk of imitation.
E. L. Cord has weathered the de-
preston, SO far as external eye may
judge, about as we'll as he came
through the prosperity.
1t was reported in 1929, indeed,
that he had chance to sell out for
$30000,000, and such a price doubt
less would be a romantic fancy to-
day.
MOTORS alwys delighted and
4V1 appealed to him. He rugged
up his own rebuilt speed car about
twenty years ago and raced, among
other places, on an old dirt track at
Tacoma, Wash.
Years later he and his partner
Manning, were telling stories and
realized that they had driven one
another in the same race on Fourth
of July and Cords car had dropped
out half through the 500 miles.
He made almost his first money
buying up Fords in the Los Angeles
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
Democratic Club to Meet

Riverside Democratic Club will
meet at 8:15 tonight at the Olympic
Club, corner of Pruitt and River
side drive. Speakers will discuss re-
peal of the eighteenth amendment.
The Sahara Grotto glee club will be
on the program.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
Royal Scot Not to Come Here

The Royal Scot, famous British
train, will not be shown in Indian
apolis, May 26, en- route to the Cen
fury of Progress fair at Chicago,
opening date of which has been
changed from June l to May 81. The
change was mace due to inability of
President Roosevelt to be in Chicago
on June /,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
BACK HOME AGAIN

Stolen automobiles recovered by police
belong to-
w. L. McClain, 1851 Hoyt avenue. Ford
truck found at Merrill and Illinois streets
Estella Creagh, 1116 North Pennsylvania
street, Chrysler sedan, found in rear of 1913
Blake street, stripped of tires and battery.
Emma Lisman, 1880 North Dearborn
street.. Chevrolet sedan, found at Thirty
seventh and La Sale streets
Hoosier Oil Company, 1902 East Thirtieth
street. Dodge coupe, found at 322 Eastern
avenue with bullet hole in body.
j. Meyer, 700 Sanders street. Chevrolet
coach, found at I'LL South State avenue,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
CORD MAKES CASH GROW F'As
Genius Auburn Car Goes After Money With Energy

In
Of
SO
muddled tells
articles fortun
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-10
PATRONAGE TIES
M'NUTT DOWN,
FARMERS TOLD
Governors Time Taken Up
by Partisan Matters, Says
Union Head.

BIZ Times Special
AMBIA, Ind, May 10.-Benito
Mussolini, dictator of Italy, ard
Governor Paul V. McNutt were COM
pared here today by Robert Gather
wood, president of the Farmers
Union of Benton and Warren coun-
ties. committed to a campaign for
lower taxes and a moratorium on
foreclosure of farm mortgages.
Recalling visit to the Governors
office last week by delegation from
the union, Catherwood, who was
member Of a party of tourists which
visited Mussolini a few years ago.
said
Both appointments were for 2:30
p. M" Catherwood stated. Mus
solini kept us waiting five minutes:
McNutt, two hours and forty min
utes."
"McNutt Less Fortunate"
The private offices of both we're
magnificent and costly" Catherwood
continued. "Mussolini, having only
great affairs to deal with and no
patronage whatever, maintained an
atmosphere of dignity and calm in
his antechamber.
Dapper and soft footed secretaries
passed and repaSsed from his room
to a green baize door behind which
the muffled clatter of typewriters
was heard. His strength and time
obviously were devoted to high mat
ters.
"McNutt seemed less fortunate.
Perspiring secretaries and stenog-
raphers of both sexes and colors
rushed about. and passionately were
claimed as schoolmates, fellow
toWnsmen and relatives by members
OF the crowd who Just must see the
Governor. The place had the at
mosphere of a Kilkenny fair.
Time Taken by Patronage
His strength and time obviously
were taken up by questions of pa
tronage."
CatherWood concluded:
There is, indeed, a vast difference
between dictator who dictates and
lifts a PROSTATE nation to its feet
and a Governor with dictatorial
powers, who, for partisan reasons. is
not permitted time to dictate, but
is compelled to let things 90 on
much as they have been in the
past"
The Washington times., 1933-08-22
SAC IN BUILDING
SHARP IN JULY

Indicated expenditures for
building operations in July de-
clined 11.3 per cent as compared
with June, according to the
Bureau of Labor Statistics.
Estimated cost of total construc-
ton in July was $38,OO6,669 as
compared with $42,955,2O9 in
June.
New residential building in
July declined 8.8 per cent in indi-
Gated expenditures while non
residential building declined 40
per cent.
Comparing building permits
with those of July year ago
there was a decline of 10.1 per cent
in estimated expenditures al
though the number of total opera
tions increased 1873 per cent.
There was an increase of 43.0
per cent, however in expenditures
for new RESIDENTIAL buildings, but
new nonresidential building de-
clined 41.0 per cent in estimated
values,
The Washington times., 1933-08-22
DEFICIT IS CUT
BY CAR LINE

A deficit of $12,642 for July, a
slightly better showing than the
$13,036 loss a year ago, is reported
by the Capital Traction Company
to the Public Utilities Commits.
sion.
Operating revenues decreased
by $28,362.21 during July, COM
pared with the same month last
year. Operating expenses we're
cut heavily, being $29,129.14
under July, 1882, and resulting in
a gain in operating income of
$593.31.
Incorporating income wa S
slightly ahead of last year and
gross income was $20,561 .48
against $19,4466O a year ago, an
increase of $1,11488. Interest on
bonded debt required over $4,000
the same as last year.
For the seven months ended
July 80 the company reports net
profit of $3,671, comparing with
$58,860 in the like 1882 period.
There was a decrease of 2,869,024
revenue passengers.
The Washington times., 1933-08-22
Wall Street Expecting
New Deal This Year

Itractions that tag "big top" If
the big show flourishes, they
prosper too. If its business de-
clines or suffer a setback, they
feel it, too.
The three big rings have had
their ups and downs, but up to
now they have been allowed to
conduct themselves pretty much
as they pleased. The depression
and the new deal in Washington
have changed all that, and now
the business methods of all three
are either in the process or about
to be thoroughly reorganized.
Banks Course Charted
For the big banks, the course
has already been charted. There
is no decision to be made. 1t has
been rendered for them by the
Glass-Seagall bill. They are to
get out of the securities business
and stick to their "last"-the
business of making loans and
financing trade expansion.
But for the other two main at
tractions-the decision as to the
future is being left to them.
The stock exchange is to regu
late itself before the next session
of Congress or else have the jot
done for it by the Government.
The decision the Investment
banking houses have to make il
whether they will become bankers
or security sellers.
The Washington times., 1933-08-22
Baltimore Market
For Tobacco ActiUe

BALTIMORE, Aug. 22.-The
market for tobacco has been ac-
tive here the past week, with
prices strong for all except the
low and heavy grades. Receipts of
Maryland leaf totaled 2,708 hogs
heads, and 1,458 were sold. Two
hogSheads of Ohio were sold, with
no receipts reported.
Prices per 100 pounds for Mary
land were for frosted and inferior,
1.00@2.00; sound to good common,
3.00@1 1900; medium to good, 1890
@35.00; good to fine red, 10000
46.00; fancy, 46.50@47.50. Sec
onds, common and medium, 1000
1000; good to fine, 21.00@ 40.00;
1881 crop ground leaves, nominal.
Upper county hurley, nominal.
Ohio prices were for common
to medium, 6.00@12.00; good to
fine. 1800@25.00; spangled good
to fine yellow, 2500@50.00.
Warehouse stock at the week
end totaled 16,607 hogsheads, of
which all but 96 were Maryland
tobacco
The Washington times., 1933-08-22
FINDS
OUTLOOK GOOD

Louis w. Laudick, washington
partner of Fenner, Beane g. Un'
gerleider, has just returned from
a trip to Chicago, Oklahoma City,
Tulsa, Dallas, New Orleans, Au'
gusta and Atlanta. Accompanying
Mr.. Laudick were Messrs. A. c,
Beane and Curtis Dali, New York,
members of the firm.
All members of the party eX'
pressed the belief that the Admin
istration program for business re,
covery has already passed the
crisis, and that a broad recovery
may be expected before the end
of the year.
The first stop was at Chicago
where the firms new office was
inspected, and the party assisted
in opening new offices at Okla
homa City and Atlanta, Ga.
The Washington times., 1933-08-22
PRICES
ARE LOWERED
SLIGHTLY

NEW YORK, Aug. % GN.S0,
Cotton futures held a trifle un-
der the previous close today in
trading that was restricted in
volume.
New orleans and the South
were moderate sellers and there
were scattered hedge offerings.
Trade Main Support
The foreign and domestic trade
furnished the chief source Of sup
port, with Japanese interests TAX
ing October and January con-
tracts from the ring. Wall Street
and commission houses made pur-
chases in the distant months.
Expectations of inflationary ac-
ton is the principal factor in sup
porting cotton values at current
levels. Traders continued assidu-
ously to avoid the short side ex-
cept for quick turns.
Better in Worth Street
Worth Street was reported do
ing little better. and there was
considerable relief by the easier
terms manufacturers expect on
installment payments on the pro-
cesSing tax.
Midday prices we're off one to
three points, with october off 2
at 9.36, December off l at 9.57,
January off 2 at 8.66, and July
off 3 at 10.11.
The Washington times., 1933-08-22
Steel Dumping
Prohibited

Close on the signing Of the
temporary steel code the
Treasury today issued an anti
dumping order against Euro
pean S stee products, mostly
from the Saar region seized
by France from Germany at
the close of the war.
The order covered steel
products also from France,
Germany and Belgium, be-
sides a variety Of other goods.
These included Japanese
lamps, and calcium carbide;
thumb tacks and woven wire
fencing from Germany; Port
land cement and bin d er
twine, Great Britain; Cana
dian rock salt; Stearic acid,
Holland; and sulphite paper,
Sweden.
The Washington times., 1933-08-22
Steel Operations
Off to 81 Per Cent

NEW YORK, Aug. % G.N.SO.
Clarification of the industrial code
situation will stimulate resump-
ton of the interrupted buying
movement, says the magazine
Steel, which estimates that con-
fusion over codification of the in
dustry reduced steel-Works opera
tions three points to 81 per cent
the past week.
Seasonal influences have added
some weight to the recession, it
explained, and as a consequence
the decline in activity has become
more rapid with prospect of fur
ther reduction this week. General
expectation of higher prices in the
fourth quarter, according to the
publication, is bolstering ship
ments and leading to some new
purchasing.
The Washington times., 1933-08-22
ActiUe SpindIes Up
Third OUer Year AGO

There were 30,893,9 cotton
spinning Spindles in place in the
United States on July 81, of
which 26,069,158 were operated
at some time during the month,
compared with 25,540,504 in June
and 19,758,252 in July year
ago, the Census Bureau an
nounced today.
The cotton code, effective July
II, limits the hours of employ
ment and of productive machin-
cry. However, in order that the
statistics may be comparable with
those for earlier months, the
same method of computation has
been used. The aggregate num-
ber of active spindle hours re-
ported for the month was 8,127,-
978,275.
The Washington times., 1933-08-22
TRADE IS LIGHT
IN DRAGGING
CURB LIST

NEW YORK, Aug. % GNS0
The curb market was a draggy
affair today, with advancing ten
denotes in selected list of in
dustrfal issues offset by softness
in alcohol and utility shares.
Turnover Is Less
Turnover tapered off, however,
and there seemed to be no great
rush on the part of traders to
convert their paper profits into
cash. For the most part, price
changes we're held within mod
crate bounds.
Some specialties made head
way. Losses in the alcohol list
were relatively small. Continued
agitation over rate cuts was
again a depressing factor in the
utility group.
Oils Generally Lower
Standard of Indiana appeared
well bought in a generally lower
oil group. The Cities Service is
sues continued their mark-time
attitude.
Curb bonds we're firm in spots.
The Washington times., 1933-08-22
DOLLAR TURNS
STRONGER

NEW YORK, Aug. % GN.S).
The dollar turned stronger against
European currencies today, rising
to 73 cents gold from 1878 cents
yesterday.
Sterling dipped to $4.491a, off
11a cents. Scandinavian ex-
changes dipped from 8 to IL
points in sympathy with the
pound, and the Canadian dollar
declined one-sixteenth of a cent
to 94A cents.
European gold currencieS also
moved lower in favor of the dol
lar. French francs declined 2
points to 5.33 cents. belgas 9
points to 1900 cents, Swiss francs
10 points to 1928 cents, and
guilders 10 points to 54.94 cents.
Marks dipped to 3243, off II
points, and lire and pesetas eased
moderately. Japanese yen were
soft at 26.85 cents, off IS points.
The Washington times., 1933-08-22
California Reports
Improved Business

SAN FRANCISCO, Aug. %
G.N.SO SO.-Improved conditions OF
agriculture and business through
out California were reflected to-
day in the trade and crop re,
ports compiled by the Bank OF
America.
The banks preliminary July
index of Far Western business
registered 64.2, gain of 40
points over the June figure and
an increase of 1913 per cent over
the depression low of 53.8 regis,
tered in March.
A survey of July building per,
mits in So cities throughout
eight Far Western States showed
a 66.7 per cent gain over July
1882. Bank debts for the month
in 81 Western cities were 4 per
cent above the debts in July,
1892
The Washington times., 1933-08-22
MARROW RANCE
|. |STRAVERSED
BY GRAINS

CHICAGO, Aug. % G.N.S0-
Grains covered a narrow range
during the afternoon. Trade was
quiet, with market influences fea-
tureleSS.
Wheat sagged about a cent,
then rallied to the previous clos
ing level. Corn was moderately
lower, with lack of aggressive
buying rather than liquidation
carrying the market down.
Unchanged at Noon
Near noon wheat was un-
changed to 1sc lower, corn "a to
3sc lower, oats 1sc higher and
rye rs to 13s up. Barley was
1c higher.
Liverpool wheat was 1s to 14d
higher, Winnipeg unchanged to
14c higher early.
Continued rain in parts of the
winter wheat belt, which is ex-
pected to improve soil conditions,
was regarded as bearish and in
duced some of the early selling
in wheat.
Open Interest Drops
The decline of 100000 BUSH
els in the open interest in wheat
since July 20, while reflecting an
improvement in the technical
condition of the market, had no
appreciable effect as a market in
fluence.
Estimated carlot receipts were
Wheat, 81; corn, 54, and oats, 26
The Washington times., 1933-08-22
Dollar Per Barrel
For Crude Forecast

NEW YORK, Aug. % G.N.SD. e.
Dollar-a-barrell for midcontinent
oil was forecast in trade circles
today on the expectation that
President Roosevelt under the
provisions of the oil code which
will become effective September 2
will set a price of 5.4 cents gal
lon for U. S. motor gasoline of
60-64 octane rating in the mid
continent tank car market.
Under the price provisions of
the oil code, midcontinent crude
of SO degrees gravity would be
1872 times the gasoline price,
which would bring the quotation
to 81. The present price is about
81 cents a barrel.
The Washington times., 1933-08-22
CLOTH MARKET

NEW YORK, Aug. % S).-The
coarse yarn cloths market displayed a
steady tone today in quiet trading.
Buyers who sought to fill their needs
in second hands found few goods avail
able in such courses and with many
mills still withdrawn from the market,
there was no surplus of offerings de-
spite the light inquiry.
Many mills were reported prepared
to keep their production attuned TO
shipments in order to avoid the neces-
sity of accumulating stocks upon which
they must pay processing tax. This
curtailment of output will begin about
September /. according to usually we'll
informed circles.
The Washington times., 1933-08-22
HARTMAN FIRM
SOON MOVES

Hartman and Company will
move about September l from
their present location to new
quarters at 815 Fifteenth st. N.
w., Perry K. Heath, resident man.
ager, announces.
The firm has memberships in
the New York Stock Exchange,
the New York Curb Exchange, the
New York Cotton Exchange and
the Chicago Board of Trade.
Besides Washington, where it
has had a branch nearly IS
years, offices are maintained in
Baltimore, Wilmington, Del;
Providence, R. l., and Patterson,
N. j. Mr.. Heath, former Assistant
Secretary of the Treasury, has
been in charge here several
months.