davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-12
Money and Exchange
rN-D..-.po "
INDIANAPOLIS
FOREIGN EXCHANGE
ibN AopOlt, hoppln q Col
Sept. IL
Treasury Statement


WASHINGTON. Sept 12.-Government
expenses and receipts Of the current fiscal
wear
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-12
UTENGARTEN &, CO. members


change. expresses the opinion Of
many people in the financial dis
trict when it says in its current
letter 10 customers that it believes
"the administration is going to real
lie before very long that recovery
is more important than reform, and
that recovery can not be accom-
pliShed without the cooperation OF
industry and capital" II adds:
This realization may be brought
about in connection with govern
ment financing or it may be brought
about through the continued COM
parative idleneSs OF the capital
goods industry. or through a con-
tinued decline in all lines Of bust
ness and growing unemployment.
"One thing is certain: organized
business and finance and the mill
lions of people throughout the
country who possess capital are not
going to cooperate with an admin
istration that they miStrust and
fear. II either side gives in 1t must
be the government The situation
in this respect is probably reaching
a crisis"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-12
ID EPORT has it that the United
IN states government through its

IN States government through its
equalization fund, has taken a hand
in the foreign exchange market in
order to teach foreign currency
Spectators a lesson. French francs
had been forced up against both
the pound and the dollar, with the
result arbitrage operations had be-
gun 70 drain gold from this country.
Operators of the fund are said
last week 10 have gone heavily short
Of francs. driving the price back
down and catching spectators nap
ping. Now, according to all &C
counts. in order 10 avoid the logical
effects Of their covering operations
in the open market these operators
plan 10 buy francs directly from the
Bank Of France and pay for them
with gold. The result may be ship
ments of gold direct from this gov
eminent 10 the French central
bank
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-12
FEDERAL FARM LOAN BONDS
by Blyth & Co, Inc.J
Sept. IL

Federal Farm Mortgage Corporation
3Ls March Is. l964-44 ..... 98.14 1924
The three latter quotations are in thirty
seconds.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-12
Iye-No. 2. 8 cars. Total, Q cars.
(By United Press

Local wagon Wheat
City grain elevators are paying IS cents
for No. soft red wheat. Other grades
on their merits
Evening star., 1934-09-13
TABLE BEVERAGE

you searched the world over, we doubt you could
find better daily beverage to protect you and forty
your meals against many of the Deficiencies that creep
into the average diet The food values of Ovatne are
not only exceptional but the elements it contains have
been scientifically selected to meet the main needs Of
&he human body
Evening star., 1934-09-13

LIVERY year since 1913, when Ovaltine was FIRST
Il brought to this country from Switzerland, its
usage has increased at very rapid rate The American
public have been quick to recognize the unusual merits
and the many uses Of this unique food beverage.
We, in turn, have reduced the price, each time that
increased sales became large enough to cut COSTS
(Th;s IS the third reduction since 1897 And each time
the public has responded with greater usage.
Since 1929 for exampe-in spite Of business depres
son-the usage of Ovaltne has increased more than
1OOTo. Decreased incomes, we believe, have made
people keener in judging values.
Up to now, however, most people have used Ovatine
as aspeciased food for specific needs for example, to
build up underweight children for convalescence after
Illnesses or as hot drink at bedtime to induce sound
sleep.
But now, at these new low prices, we believe that
Ovatine can and should be kept in every home for all
qt the many wonderful purposes It serves.
Evening star., 1934-09-13

the transport companies. Not only
are landplane facilities needed, but
seaplane ramps and floats are even
more badly needed In the numerous
cities which are located on water.
Many. including myself. believe that
there will be . definite trend in the
near future toward seaplane and am
phibian services along the coasts and
rivers, both for intercity and COM
muting air transport.
Blind Landing Aids Planned.
The Bureau Of Air Commerce as
sumes that the more dependable the
service, the more that form Of trans
portation win be used by the travelling
public. During the next few months
we hope it win be possible to make q
further contribution to scheduled air
line operation by the installation Of
experimental "bind" landing equip
ment at several large airports. Hither-
to there has been some debate as to
the most practical system. However,
the landing of planes safely without
ceiling or visibility will be the last
Oh JklG SSIlOtlS 8lIlLuc pfO0ACkIlS 10 OC
overcome. We are simply continuing
the attack upon 1t, as is the Army
Air Corps for its missions.
An important milestone In the
safety Of airline operation was passed
. few weeks ago when new regulations
to replace the existing obsolete re-
quirements were placed in effect by
the Department of Commerce follow
ing Q conference with the airline oper-
ators. It was not q question Of our
having to force these new regulations
on the operators. They were ready
ard willing to be governed by the
best known standards and practices
to the end that present safety records
would be further increased, greater
public confidence would develop and
as q natural consequence, more dol
lars would roll In. Specific authority
granted the Department Of Commerce
by Congress at the last session to reg
ulate airlines from the safety point of
view was the impetus which brought
about the new and more complete
regulations for public safety.
Another part of our safety cam
paign is the study Of accidents, fol-
lowed by an application Of the knowl-
edge thus gained to future operations.
Evening star., 1934-09-13
fiying. the arrivals and departures Of

flying. the arrivals and departures Of
the transport planes. but the long
distance nying boat operation Is not.
as we say, close to home. This type Of
craft and travel has developed Just
as has the land plane within our
boundaries, its eventual objective
being ocean crossings on scheduled
services. Our great foreign system Is
now being equipped with flying boats
which carry % passengers. mail and
express at q cruising speed Of about
l60 miles per hour. While our worlds
greatest domestic air transport system
has been built up. our worlds great
est foreign air service has kept pace
to the extent that its airway mileage
is nearly equal to the mileage OF the
airlines within our borders.
Since the extension Of airways in
all directions out Of the United States
can progress along with the expan-
sion Of the domestic air system, and
Evening star., 1934-09-13

In the past the Bureau Of Air Com
merce had been hampered in its inves-
legations Of accidents by = lack Of
authority to compel the giving Of tes-
timony by unwilling witnesses. Also.
the general situation was clouded
because of the necessity for holding
accident reports confidential. Now,
with additional authority granted by
the amendment to the air commerce
act, these particular difnculties are
eliminated Procedure for investigating
accidents under this ampiified author
ity has been worked out, 50 that In the
event Of o serious accident Of question:
able circumstances q public hearing
will be held, and the cause or causes of
the accident may be made public. The
shroud Of mystery which has attended
aircraft accidents In the past will, for
the most part, be removed.
Lines Extended Abroad.
Along with the development Of air
lines in this country we have seen the
American operators extend their serv-
ices to foreign Canada,
Mexico, the West Indies, Central and
South America. It was my privilege
recently to fiy over . great part Of the
airline mileage In Latin America,
preparatory to the setting up Of Federal
regulations governing safety on Ameri-
can-operated foreign air passenger
lines. Only such trip can impress
one with the importance Of the Air
Service IS Q communications and
transportation necessity In accelerat-
ing both international goodwill and
trade.
One cannot fly this long route with
out appreciating more than ever the
fact that the airplane knows no
boundaries or distances. There Is no
question but what, within the next few
years, the airplane will travel to prac-
tically every corner of the world. We
who have followed the progress of air
transport within our country have not
as yet realized the potential place Of
the airliner in world transportation.
No mysterious or unforeseen develop
ment is needed to cross safely oceans
as well as continents with passengers
and cargo. Only the continuation Of
the same past steady advancement Of
the art is required.
Daily we all witness the activities
about the airports, the miscellaneous
Evening star., 1934-09-13

and believe that It d the Govern
ment's duty to assist In both.
Passenger and express revenue can
be increased by more frequent and
convenient services, BY faster and
better equipment, more dependable
all-weather performance, and by the
availability Of landing facilities near
the point of actual destination.
Operating costs can be reduced BY
faster and more easily maintained
airplanes and by more frequent serv-
ices which automatically reduce the
cost Of each trip by dividing the flxed
and overhead charges.
better Airplanes Needed.
To those who are concerned In the
future Of the air transport system, IL
might be said that their business sue
cess depends mainly on the develop
ment Of faster and better built air.
planes. The airplane Is, believe, the
only form Of transportation Wnlcn
can reduce its operating cost per mile
almost in direct proportion TO It's IN
crease in speed, other things Deing
equal. Thus, each time an airline
re-euuips with faster planes. its nying
costs per mile should be reduced.
However, the development OF new
planes and motors Is very expensive,
and It Is hoped that governmental
Assistance in this field may be OBJ
tanned by using the funds saved from
subsidies for the development OF ex-
detrimental planes and motors.
One Of the most irritating handi-
caps In the promotion Of air travel IN
this country is the distances and dis
agreeable rides between the airports
and the city centers. This Is par
ticularly true in the larger cities.
Plans have been completed and sub
mitted by municipalities for close-in
landing fields for q number OF larger
cities. We hope that these projects
win be undertaken during the present
Federal campaign for national re-
covery by increasing employment. !
firmly believe that passenger travel
between large cities, but q few. air-
hours apart, would soon triple II the
transport planes could load and un-
load near the city centers.
This would bring closer the objec-
tive Of establishing q profitable air.
line industry, by increasing the pas
senger, mail and express revenues OF
Evening star., 1934-09-13

isting ones, particularly in the field
OF radio communication, and to pro-
vide new ones.
Also by law, the bureau has the
duty Of fostering and developing air
commerce, as well as regulating 1t and
providing aids. In initiating changes
and improvements in our services and
adding new activities, we have con-
stantly kept in mind several facts.
Aviation, with all its past romance
and color must, in order to become q
real industry, produce, operate, or sell
for profit on q sound and permanent
basis. We also feel that because the
art improves rapidly and hence ex-
pensively, indirect Federal assistance
to those phases which require aid Is
logical for reasons too numerous to
mention, and which include national
defense, but at the same time no
phase with future possibilities should
be neglected to the advantage Of an
other. A third fact Is that CONNER
cial aviation Is the backbone Of all
aviation, since after al, the military
arms are entirely dependent on the
products Of the commercial manufac-
turers.
5000 Miles Of Airways Planned.
Projects upon which the Bureau Of
Air Commerce have engaged during
the past year have special significance
for scheduled air transportation prog
rsss. Funds obtained from the
Public Works Administration enabled
us to undertake construction Of 5000
miles Of new lighted and radio
equipped airways. The new airways
are on routes from Seattle to Minne-
apolis; from Fargo to Pembina, North
Dakota; from New Orleans to st.
Louis, from Tulsa to st. Louis, from
Galveston to Waco, Tex, and from
Nashville to Washington. Additional
funds requested and granted allowed
US to improve existing airwsys, equip
our inspection service with new
| planes, continue our blind landing ex-
periments, and complete the air map
ping of the entire United States.
It might be well to mention here
that while these extended services are
p. w. A. projects, the entire Bureau
has been reorganized and new meth
DDS installed to the extent that the
annual expense Of operating adequate
ly all the former services and ac-
tivities has been reduced hy over one
third, or almost $3,D00, 900 yearly.
In order that our commercial
transport lines may be economically
independent, each must earn profit
in carrying passengers, mail and ex-
press. SO that each may. employ its
surplus for essential and continuous
development. Airlines must increase
their revenues and lower their costs,
Evening star., 1934-09-13

interested in aviation is the study and
the probable recommendation of the
Federal Aviation Commission recently
appointed by the President. No wiser
move could have been initiated at this
time than to have an impartial group
study both, commercial and military
aviation, and recommend for the
future, rather than investigate the
past.
Because Of the present interested
attitude Of both the administration
and the public, along with these recent
events and developments, no industry
could reasonably hold more hope for
its future growth and success. So that
at this time every indication points to
the beginning of a great era Of develop
ment and expansion of all phases Of
American aviation.
Two Divisions in Bureau.
The Bureau Of Air Commerce, func-
tioning under Secretary Roper, who
has, from the beginning, used all his
authority and facilities in the promo
ton of what he apparently considers
as the most promising great industry
Of the near future, has q total person.
mel of some 1900, and many and
varied activities. It Is organized into
two main divisions-Air Regulations
and Air Navigation.
Briefly. the Air Regulation Division
carries out the regulatory powers
vested in the Secretary Of Commerce.
The fundamental principle IN air
regulation is to assure airworthiness
Of civil aircraft, competency Of air
men, and their operation in accord
ance with the Air Commerce Regula-
tions and Air Traf1c Rules. To that
end, aircraft are approved and IL
censed; aircraft engines and access
sories are approved for use IN licensed
aircraft: airmen are licensed on the
basis Of physical qualifications, train
ing, experience and competency In the
operation Of aircraft: operations Of
interstate air passenger lines are
regulated from the safety viewpoint;
schools and repair stations are ap-
proved II they request approval and
meet Federal requirements: accidents
are investigated and data obtained
forms the basis for measures to pre-
vent similar occurrences.
The Air Navigation Division con-
structs, operates and maintains the
Federal Airways System. There now
are some $4,000 miles Of routes
equipped with beacon lights, inter-
mediate landing fields, radio direc-
tional service, radio communication
service for weather nroadcasts and
emergency messages, and weather re-
porting service. The Air Navigation
Division is continuously studying the
aids to air navigation and their
operation In order to improve the ex-
Evening star., 1934-09-13

ct the same rapid rata Of dsvslcp-
ment and since vigorous policies of
foreign air expansion have been
adopted BY European countries, We
hope that our country win make every
effort TO retain It's leadership. North
to Alaska, west TO Hawaii. and east
TO Europe should be cur near future
air service objectives.
European Nations Active.
At Natal, Brazil. we inspected the
bases Of operations Of both the French
and the German Atlantic air services,
already inaugurated: and at Rio the
Graf Zeppelin was arriving ON is
regular service from Germany. Euro
pean nations, appreciatfng the value
Of rapid communication, are exceed
ingly active In South American air
operations.
Transatlantic air service between
the United States and Europe is def
Continued on Page B-1eJ
Evening star., 1934-09-13
STOMACH OUT OF SORTS

If your stomach is over-tired or out -
of sorts-reducing your pep and ~
energy, robbing you of sleep-you
!: : ! : : : ! =: ! ; : :
may find that it needs a rest from ~
rich, heavy foods. Physicians rec
ommend Ovaltine for this purpose.
For Ovaltine supplies highly con- pa
centrated nourishment in q form -
that digests almost without effort
even when your stomach is out Of
sorts. Made according to directions, it is
complete food in itself.
Avoidrich and heavy Simply take Ovalt
with milk-with light meals and before retiri
day. See how much better your stomach acts
Evening star., 1934-09-13

cause it contains definite properties to stimulate the
appetite for other foods Hundreds of mothers report
weight increases of pound or more per sceek when
Ovaltne given. In this way it combats nervousness,
too. For uadsryeigM and nervousness usually 90 hand
In hand.
Evening star., 1934-09-13
sLEEPLEssNEss

Doctors have found that Ovaltne, aN
when taken as hot drink at bed XM ~
time, usually induces calm, festful a.
sleep. They like to recommend it,
for in doing 30, they avoid the use 80
Of drugs. In addition to this, the -
unique food properties Of 0valtine
make it q valuable aid to nature In rebuilding body,
brain, and nerve tissue while you sleep. By this
methodyou awaken with !" "dugg" "feeling-but
.ceareyed and calm and mind clear.
Evening star., 1934-09-13
FOR ELDERLY PEOPLE
UNDERWEIcHT CHILDREN

Ovaltine mixed with milk has
worked wonders with underweight
children. First, because it is 20 easy
to digest; even when digestion 10
slow, upset, or impaired. Second,
because Ovaltine itself is excep-
tionally. nourishing. And third, be.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-08-14
CHICAGO

Chicago. Aug. 16.-R)e(U. 8. Dep.
Agr)-Hogs. $4,000 including 5000 di.
rect: market active. fully Is higher
than Monday: 220-320 lbs, 5.75-65:
top $50: 17O-2l0 lbs. 525-75: light
lights 4.75-5.25; pigs $50 down: pack
ing sows 450-5.Oo: light light. good
and choice. 140-l60 lbs. 4.75-5.25:
light weight, 10000 lbs. SCOTS: me-
dium weight. 200-250 lbs, 5.6o-90:
heavy weight, 250-350 lbs. $500;
packing sows. medium and good, 275-
$50 lbs. 4O0-5.0o: pigs. good and
choice. l0o-l30 lbs. 350-475.
Cattle. 5000 commercial: 5000 gov
eminent; calves 1000 commercial; L.
COO government: general market very
slow; weak to Is lower: strictly good
and choice weighty steers scarce,
about steady but all others showing
decline: beef cows unusually dull at
downturn; yearling heifers Is to Is
lower; bulls 10 to Is off but vealers
strong to Is higher: largely steer and
yearling run: best long yearlings early
$40; sprinkling 7.50-8.25 but hardly
enough any class sold to make mar
ket: slaughter cattle and vealers:
steers, good and choice. 550-500 lbs,
$4,000: 900-1100 lbs, 5.5o-o.00: ll00-
1900 lbs, 5.75-9.25; 130o-l500 lbs,
6.25-9.25: common and medium, $50
1900 lbs. 2.25-6.25; heifers. good and
choice. 550-750 lbs. 4.75-7.00: common
and medium. 2.25-4.75; cows, good.
3.00-4.50; common and medium. 2.25-
800: low cutter and cutter, 1925;
bulls (yearlings excluded), good
(bcef). 2.75-3.50; cutter, common and
medium, 200-3.00; vealers, good and
chaoice, 5.25-6.50: medium, 3.00-S Is;
Gull and common, 2.5O-3.00; stocker
and feeder cattle: steers. good and
choice, 500-l05O lbs, 4.25-5.25: COM
mon and medium, 2.50-4.00.
Sheep, 5000; opening slow. under
tone weak to lower on fat lambs: bulk
held for steady prices; early bids and
few sales at CTS: numerous lots held
around TOO; some strictly choice kinds
held for TBS: sheep steady; native
ewes BOOTS.
Slaughter sheep and lambs: lambs,
30 pounds, down, good and choice,
6.10-7.25; common and medium. 49,
6.l5: ewes. 90-150 pounds, good and
choice, 2.00-3.00. Il
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-08-14
NEW YORK

New York, Aug. 14.-(P)-Butter
fx,756, firmer. Creamery higher than
extra 2sA to %: extra (02 score)
IS: first (88 to 0D AN to 27h; Sec
onds Ca to 81 23h to ~: centralized
(9O a.
Cheese 5ss,se1, firm. State, whole
milk flats, fresh, specials Is; fancy
l5h; held grades unchanged.
Eggs 20,068, firm. Mixed colors,
firsts 20 to 81: seconds 1914 to 10;
mediums 20 lbs. TN to Is; average
checks Is to 1871: refrigerators, firsts
OA; seconds 18h to 10: mediums
Tx to 1871: other mixed colors UNI
changed.
White eggs resale of premium
marks 3lh to 32h: nearby special
packs including premiums 29h to
SIN; nearby and midwestern hen
merry, exchange specials 261a to 28h;
nearby and midwestern exchange
standards 24h to 25h; marked me-
diuns 1914 to 25h; pullets 20 to 20h;
peewees IS to 1871: Pacific coast pull
lets q: other whites unchanged:
down, resale Of premium marks 3lh
to 32h: nearby and western special
packs private sales from store a. to
81: western standards q to 23h.
Live poultry steady to firm. Broll-
ers express "a to a.: fowls freight
and express II to Is: turkeys express
unquoted; ducks freight 10; other
freight and express unchanged.
Dressed poultry firm. Old roosters
fresh 9A to In, frozen . to 1lh:
turkeys frozen Is to 28: other grades
unchanged.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-08-14
WHElT' EDRACGED
DOWN BY SELLING
OF EASTERN firms
Tumblss 3Ha Cents From Ear
Tier Level a. Stop Loss
Orders Are Forced

Chicago, Aug. 14.-lR- Selling on
the part Of houses with eastern con-
nections pulled wheat prices down In
the late dealings Tuesday.
The selling revealed lack Of az
gressive support. Stop loss orders
were forced into execution, and wheat
tumbled 81 cents from earlier high
points.
Wheat closed Hurried at almost the
days bottom level. 1h-1H under
Mondays finish, Dec. new 1041 los,
corn M down, Dec. 78H-%, oats X
lower to X higher, and provisions
showing 20 to 50 cents gain.
Late reactions which temporarily
carried the wheat market back to
about the same as Mondays finish
were attributed largely to profit-tak-
ing sales. Bears contended that bad
crop news from the northern hemi-
sphere was about all In, and that
more attention hereafter would be
paid to Argentine and Australian adj
vices. It was emphasized that the
United States had enough wheat for
domestic purposes.
Persistent strength displayed by the
corn market. however. helped at
times to rally wheat and other grains
including oats. The fact was noted
also that receipts Of corn In Chicago
showed considerable falling off as
compared with q week ago. and that
hog prices were advancing rapidly.
Stress was also put on Improvement
Of shipping demand here for corn.
Provisions rose sharply with hog
values. Lard Jumped to q new high
price record for the season.