davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
NEW CODE ANNOUNCED
Terminal Grain Elevator Trades
Linked to Exchange.

By United Press
WASHINGTON, Nov. 22-The
agricultural adjustment administra-
ton today announced that the ter
minal grain elevator industry had
been placed under the fair COMPETE
ton code of the grain exchanges
through amendment Of the code.
The move was considered more
feasible than setting up a separate
code since most industry members
are also members Of grain ex-
changes.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
ALL GRAINS HIGHER
IN CHICAGO TRADES
Reversal of Sentiment
Abroad Causes FirmneSS.
By United Press

By United Press
CHICAGO, Nov. ga reversal of
sentiment abroad lent firmness to
grains on the Board of Trade today
At the start wheat was Il to 3
cent higher, corn was unchanged to
up p cent, oats were up 4 to Z
cent, and rye was up q to = cent.
Bartlett Frazier & Co.'S Liver
pool cables reported there was
a decidedly better feeling in Liver
pool today and better demand
sprang up for wheat. Argentine crop
estimates were reduced.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
LEHMAN is PROMOTED

Be- fn1Fs special
PITTSBURGH. Nov. 22-Chester
II. Lehman has been appointed vice
president IN charge Of sales Of the
Blaw-KnoX Company, It was an
nOunced today. Previously he was
secretary Of the company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
SEC Plans Cooperation
of Federal State Officials
i'm C1lrbing Stock Frauds
Program Would Put End to
Abuses Since New
Laws.
Unifc5Press

By United Press
WASHINGTON, Nov. o.
Unified action by federal and
state authorities to curb traf-
fic Of millions of dollars of
fake securities and to end
bucket shop rackets is being
planned today by the secur-
tiles and exchange commits
sion.
The program, it was learned, en-
braces strict cooperation between
state blue sky commissions and the
SEC to end abuses, which have
sprung up after enactment OF the
securities act of 1888 and the Sc
curities and exchange act of 1884.
1t was learned that the stock mar
ket regulatory body is eagerly"
awaiting the cooperation plan OF
the National Association of State
Security Commissioners, which met
recently in New Orleans.
Lands Urges Program
This latest step to protect the
public from fake securities follows
a decision by SEC to establish fly
ing squadrons" in seven key cities
throughout the country and raid
illegal dealers and bucket shops.
James NJ. Lands, commission
member, is urging the state and
federal cooperation program assert
ing that dealers in unregistered Sc
curities, in many instances, are
evading the jurisdiction Of state Sc
curity commissions through inter-
state transactions.
Adequate surveillance Of these
markets" Mr.. Lands said, "can not be
accomplished by the federal govern
ment alone. Their supervision would
require a veritable army of men.
Much has already been done by
states through direct suppression of
frauds and by effective registration
Of brokers and dealers.
Interstate Agents Enter
But the interstate aspects Of
these markets have on occasion
made them unamenable to state con-
troll. and such security distribution
these days Of the undesirable kind
has sought the shelter of interstate
commerce"
Lands disclosed that the commits
sion has uncovered several large
schemes of the sell and switch type"
in which the long distance telephone
was used to reach customers out-of-
the state.
The commissioner asserted that
well planned attack on the fake
dealers is needed to "clean up the
situation" and invited the invest
ment banking group to assist federal
and state authorities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
INSOLVENCY INDEX OFF
November Business Failures Show
Slight Decrease.
81 Tine'SFsral

- uses fff'li
NEW YORK. Nov. Cuisines
failures in the United States during
the first half Of November showed
slight decrease as compared with the
previous month. according 70 Dun
& Bradstreet'S insolvency index.
The index now stands az 656.
compared with 60 al the same date
in october. and SO for the cores
ponGing period IN 1888. Generally
November failures are higher than
any preceding months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
COAL RATE CUT ASKED
Wheeling & Lake Erie Petitions
for slash Of Cents a Ton.

for slash Of Cents a Ton.
By Unifsd Prose
WASHINGTON. Nov. 22-The
Wheeling & Lake Erie Railroad
today petitioned the interstate
commerce commission 70 establish
a rate Of Si.54 per ton on bitumin-
Gus coal from the middle district Of
Ohio 70 way points on the Big -Four
railway.
The petition claimed the present
rate Of SI-59 per ton violates the
long and short haul clause OF the
Ohio general code and Is 5 cents per
ton higher than the rates in effect
from Coshocton 70 Cleveland over
the Wheeling g. Lake Ere and
Big -Four line.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
Treasury Statement
lRv united Pressl

WASHINGTON. Nov Government
expenses and receipts for the current
fiscal year to Nov 20. compared with the
corresponding period of the previous fiscal
year.
This Year. Last Year.
Expenses 81. $50. 2f5. 739 % 81. 754. 003 867 e0
Receipts . 404 .422. I'll l103 17s 221 70
Deficit &C.. 283 1893 500 So 650,825 645 50
Cash bal 1.641. 12G. 1904 1890 orc, Is
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
CBy James z. Bennett)
LOCAL CASH MARKET

city grain elevators are paying SO cents
for No. soft RED wheat. other grades
on their merits Cash corn No. 3 yellow
70 cents, and oats 43 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
Trends
Gold Clause Cases
Go Before Supreme
Court Jan. s.
= By VINCENT :. LYONS
Tines Financial Eeitor

A INVOLVEMENT tn a { the
n United States supreme court
viii hear arguments Jan. Q on the
much mooted gold clause n both
governmental and private ob.iga-
tons would seem % indicate that
1888 will get Of % a good start IN
50 far as clearing Up some Of the
recovery legislation is concerned
-Four cases IN which the govern
mont Is directly interested. because
validity Of the abrogatiOn OF gold
payments. dollar devaluat.on and
presidential acts are questioned,
viii be heard AZ one time. This
IL IS believed. the altered status OF
bond contracts resulting from
changes IN the monetary system OF
the nation during the last nineteen
months VIII De subjected 70 the
scrutiny Of the highest court IN the
land
Two Of the cases involved bonds
OF the Baltimore r. OHIO anc Ms
souri,. Pacific railroads The point
Of issue here is whether holders OF
SJnds. which nave matured. are
entitled 70 receive payment OF prin-
cIpal In gold. The remaining cases
involve the right Of a holder OF
United States treasury Eol1 GER
tincates % collect IN currency at
the rate OF si62 and the right OF
an owner % Liberty ronds 10 col
lect at the same rate on a security
wr.ch has been called for redemp-
ton.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

FLECIRICIII mas come 70 MEAN
T. a great deal to the welfare Of
the nation, both socially and indus
trially. If electricity can be pro-
duced and distributed cheaper
through better development and in
terconnection Of our natural water
power resources it would seem that
this should be done, even though the
government is obliged to take the
Initiative and furnish the capital
It is possible. therefore. that the
attitude of the administration is one
of progress rather than one Of perse-
cution, and if such is the case it
would seem to conflict with its atti-
tude toward other industries.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
Retail Coal Prices

The following prices represent quotations
from leading Indianapolis coal dealers.
25-cent carrying charge Der ton will be
DOMESTIC RETAIL PRICES
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
Traffic Gain Urged

The first essential to an increase
in the net operating income of the
railways is. Of course, an increase
in total production and commerce
and thereby in their traffic Ade-
quate increase of their traffic is
dependent also upon federal and
state legislation to equalize terms of
competition in transportation by
applying comparable regulation to
them and their competitors and
Withdrawing subsidies from their
competitors.
Their net operating income and
buying power are, however, being
adversely affected by advances in
prices under NRA and the advance
in wages they agreed to make last
spring when their traffic was in
creaSing. There can be no solution
Of the problem of increasing railway
buying that does not attack the
problems of both increasing their
traffic and reducing their unit costs
of operation.
Government or business policies
adverse to either of these results
curtau railway buying. delay revival
Of the durable goods industries and
thereby postpone economic re-
cOvery.'
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

THE utility stocks have been
Il under rather heavy pressure Of
late, due to the APPARENTLY unfriendly
attitude Of the administration in
Washington toward these compa-
MES. 1t is possible that this attitude
has been misinterpreted, or at least
the motive which has prompted it.
The charges which have been
made against the utilities during
the last year or more have not been
satisfactorily answered. The atti-
tude of the utility heads has been to
let them go by default, apparently,
with the idea that they would blow
ever and be forgotten. The bankers
in Wall Street and the officials Of
the New York Stock Exchange have
discovered that such policy is not
very practical. If they can not be
answered, Of course, that is another
matter.
1t is not to be assumed that utility
properties will be taken over by the
government or any Of its agencies
without the payment Of fair price.
And a fair price is all that holders
of utility securities should ask. If
the market price and a fair price do
not coincide the market price should
be the one to make the adjustment.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

A n average loss OF S6lO on each
N ton Of steel ingots produced IN
the third quarter of the year was
sustained by the steel industry, &C
cording TO the American Iron and
Steel Institute. This cOntrasted
with an average profit Of S2-65 per
ton produced in the preceding three
months. The entire industry
showed a deficit of s25.O0OOOO for
the September quarter. cOntrasted
with a profit Of S24.600.OO0 in the
June quarter.
The institute presents these
figures to show that there is little
foundation for reports. recently cir
cuIated. that drastic reductions IN
steel prices are in prospect. The
sharD recession in operations, it IS
pointed out. has come from the
tremendous slump in demand from
the So-called durable goods indus
tries. These are activities involving
long-term commitments which VIII
only be made when confidence IN
the future Is re-establiShed.
"A price war IN the steel IN
dustry." the institute says, would
not restore such confidence, nor do
anything but retard progress. II IS
true. of course. that keen price
competition exists in the steel IN
dustrv today as it has always eX-
listed. but under the steel code to-
DAYS competition IS fair COMPETE
ton. Cut-thrOat price tactics are
recognized as uneCOnOmic and I'M
profitable. as well as completely in
consistent with the high wage
levels now prevailing in the steel
industry"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

without any difficulty and without
any appreciate break in price.
Sponsors of the issue could have
supported it Immediately after the
news broke, and investors probably
would not have been frightened into
selling.
But. of course, such an operation
now probably would come under the
heading of market rigging, and it
might get those responsible for it
into. no end of trouble. Opinions
differ as to whether the best in
terest of investors is served by the
working of the law, but it would
seem that in the long run they
should come out just as well, if not
better, with no market interference
permitted. Stock bought for sup
port invariably finds its way back
into the market sooner or later,
anyway.
This point, however, probably will
not be satisfactorily settled until we
have gone through another boom
and depression. No doubt, in view
of the machinery which has been
set up for curbing speculation, the
market is unlikely again to get into
such a dangerous position As it was
in 1929. If such proves to be the
case the decline which might be
expected to follow forward move
ment probably would be quite tenn
perate even without artificial sup
port.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
YEARS BUYING
BY ROADS PUT
AT S625,OOO,OO
Purchases From Manufac-
turerS Almost Double
1888, Dunn Says.

BIZ 7 .rss Special
CINCINNATI, Nov 22.-Railway
buying from ali manufacturers this
year viii amount 70 s625 900 600,
compared with less than $4,000 900
last year. and Of this $3.50 600 900
VIII be done from the durable goods
industries as compared With about
S234500 900 last year, Samuel o..
Dunn. publisher Of the Railway Age
declared IN an address here last
night before employers IN the ma
Chinery and allied products industry.
This large increase in buying this
year Mr.. Dunn declared. has been
due 10 loans made By the govern
ment 20 the railways and 10 the IN
crease IN their own net operating
income IN the early part of this
year. As large as the increase has
been. however. the buying done has
been less than one-half as great as
in 1929
Further Rise Needed
The railroads need to further
greatly increase their buying both
10 put their properties in good con-
dition and TO promote general eco
nomic recovery. Additional loans
from the government will help. But
they viii be unimportant as a means
Of stimulating buying as compared
with the effects that would be pro-
duced by restoration of railway
earning capacity and credit.
The still profoundly depressed
durable goods industries are the key
20 the present economic situation,
and recovery can go no further
without revival of their business and
employment. The railroads are
among their largest customers. The
amount of buying done by the rail-
roads from them ordinarily depends
and will continue to depend upon
the amount Of railway net operating
income earned. The problem of in
.creasing buying by the railways is
therefore essentially the problem Of
increasing the amount of earnings
made by them in excess of their
operating expenses and taxes.
Their net operating income. and,
therefore. their buying can be large
~ increased only by increase of their
traffic and reduction of the oper-
ating expenses incurred by them in
carrying each ton and each pas
senger one mile.
Traffic Gain Urged
The first essential to an increase
in the net operating income of the
railways is. of course, an increase
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

ORIGINALLY there vas quite a
~ Juror. when the government
declared that obligations payable
in gold were not 70 be- paid that
way. Opponents OF such a maneu-
yer declared that the sacredness Of
q bond contract was being violated.
Court suits were instituted and the
natural progression Of these &C
tions has brought them TO the
point where they are about ready
10 be heard BY the supreme court
II is strongly doubted that the
highest tribunal Viii set aside the
actions Of the government. Such
action would mean that the gov
eminent as well as private corpO-
rations would have 10 return MIL
lions Of dollars additional to hold
ers Of matured obligations.
Arguing the cases before the SUI
preme court VIII mean that that
body Will have a chance 10 pass on
the merits Of the governments &C
tions. If il uphOlds the abrOgation
of the gold clause and payment OF
devalued dollars under bond con-
tracts the avenue 10 court suits VIII
be closed.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22
Chicago Stocks
CBy Abbott. Proctor & PANE,
NeW York Curb

(By Abbott, Proctor & Painel
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

Latest Stock, Bond and
Commodity Quotations
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-22

Quotations below are average wholesale
prices being offered to buyers by local
commission dealers.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
F HA FINANCING
GREATLY AIDS
CAPITAL

This is the last of series OF
articles on the Federal Housing
Administration. The WASHINGTON
Times is the only newspaper in
the United States that has giuen
complete information on this
project.
By JOHN DEAN MILLIGAN
There is every possibility that
washington may profit more than
any other city in the United States
from the mutual mortgage plan
being put into operation by the
Federal Housing Administration.
The reason is that a majority
Of local income earners have a
steady source of money, higher
than the average.
This should enable them to Sc.
cure a mutual mortgage" more
quickly and readily than residents
of cities in which employment is
seasonal and average incomes are
not as large.
Aids U. s. Workers
Persons with reasonably Ger,
tain prospects Of repaying such a
mortgage stand a better chance
Of securing one than persons
whose employment is spotty.
This should aid Civil Service
workers here-who form a major
ity of employed persons in the
Captain refinancing existing
homes or financing new ones
through the assistance Of a "mu-
tual mortgage"
AS far as economic recovery Is
concerned new construction is
paramount. In the past, it has
been difficult even for Govern
ment employees to finance home,
and often if they were successful
they found themselves tied down
by mortgsSes described by Presi-
dent Roosevelt as "exorbitant."
Cheapest Financing
Now all that is changed. A
mutual mortgage" represents the
cheapest form of home financing
ever known in this country. It
will be easier and less expensive
to obtain a new home than ever
before. And Government workers
should be able to secure such a
mortgage more readily than many
other classes Of workers.
Which means that new homes
will rise here. The construction
and real estate industries will pro-
fit. Architects, laborers and en-
ployes of building supply dealers
will return to work.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
How to Obtain Loans
Under Housing Act

Would you ike to obtain loan at low rate
Of interest, on easy terms, for repairing or inn
proving your home, store or other property?
Would you like to convert your present short
term, expensive mortgages on your home into
new, ong-term, per cent. anortized mortgage?
Would you like to obtain such new mortgage
to finance the construction Of new home?
All these benefits to property owners are pro-
Wded under facilities being developed by the
Federal Housing Administration. For all Informal
ton and help, write your questions to the Hous-
ing Editor, The Washington Times. Enclose
stamped, seIf-addressed return envelope to in
sure a prompt, personal reply. Do NOT tele-
phone or call in person.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
For Softer Relief

of constipation in children, do
this: Stop all use of mineral drugs,
whether they are salts, pills, tab
lets, or candy" form. Even once
a month is too often to give any
child a cathartic strong enough
for adults.
Use a liquid laxative containing
SIENNA "a natural laxative). Cali
fornia Syrup of Figs has the right
amount for children's use, and this
rich, fruity syrup does not harm
or upset a child's system.
When you change to pure Cali
fornia Syrup of Figs instead Of
harsh medicines, you risk no more
violence to your child's appetite,
digestion, and general physical
condition. You'll have a safer,
more satisfactory result. Those
little upsets and complaints just
disappear as a rule when this
treatment is followed.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
The aloud TEST"

This is the way to treat occasional
sluggishness, or constipation in a
child of any age:
First: select a liquid laxative Of
the proper strength for children.
Second: give the dose suited to
the child's age, and condition.
Third: reduce the dose, ifrepeated,
until the bowels are moving with
out any help at all.
An ideal laxative for this pur-
pose is California Syrup of Figs
which every druggist keeps in
stock. Be certain that it is the gen.
uine product, with california"
blown in the bottle.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06

Hyou're looking for reel aSlSss You'll
put the name Sky Flake Waters right
at the head of your grocery list today.
For these Sky Flakes, slightly salted,
offer more in delicate flavor, in Aaky
light texture, in freshness and good
ness. They offer, too, the tk~s of con-
fidence in what the makers name
stands for. No food concern in the
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06

Boys and girls who have reached
their teens" are not ready to be
given powerful drugsl
tits not wise to give laxatives of
adult strength to a child. just be-
cause you give them less frequent
ly or in less amounts. Stomach up
sets and bOwel troubles of grouping
children can often be traced to this
single mistake.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
Proof

Give that headachy, bilious child
a little of this gentle laxative
when constipated, and a little less,
if dose is repeated, until bowels
seem to be moving regularly and
thoroughly without need Of help.
Get the true California Syrup
of Figs containing SIENNA and cas-
cara, which will not weaken the
bowels or irritate the kidneys.
You'll soon have evidence that
it safely relieves constipation in
children.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
Air Development
Abroad Revealed

Behind closed doors at the Fer
eral Aviation Committee hearings
yesterday, Brig. Gen. A. T. Smith
told the committee of aviation de-
velopment abroad while Brig.
Gen. Charles E. Kilbourne dis
cussed possible lines of attack on
the United States and its pos
sessions.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06
WOMAN BAR LEADER

PARIS G.N.SO. - Madame Lii
gnet, who practices as a bar
rister at La Rochesur Yon, has
been elected president of the Bar
Association there for 1934-35.
Madame Lignet is the first
woman to hold this position in
France.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-11-06

world has greater reputation to main
tain for quality and service to the public
than the "Uneeda Bakers" who are
cracker-bakers-in-chief to the nation.
And mighty proud of their response
bility, too.
P.S. There's another plus in the economy and
convenience of buying the big POND package
Order today sOitbOWf faA Look for tbs BIKE
package Of Sly Flake Waters.
Imperial Valley press., 1934-12-20
EXPECT ACTION
ON DISTRICTS
FINANCE PLAN

In connection with the announce
ment yesterday that the hearing on
the municipal refinancing petition,
originally scheduled to be heard in
the federal court, San Diego, today,
had been postponed until January
81, it is expected that some definite
action will be taken within the
next two or three days to declare
the irrigation districts refinancing
program operative Immediately.
A meeting of the bondholders
committee is to be held in Los An
geles either today or tomorrow and
it is expected that this declaration
will be made at this meeting.
A failure to put the districts re-
financing program into operation
before January l would automatic
ally release security holders from
their pledges of consent already
given to the proposed program.
The postponed hearing is on a
petition presented by the district
to secure federal approval of a re-
vised schedule for the retirement of
bonds and warrants of the district
under the credit readjustment act.