davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
HOGS ADVANCE
IS TO Is CENTS
AT CITY YARDS
Choice Grades Reach New
Highs for Year at
$3.50 Down.

Porker prices at the Union stock
yards this morning again scared to,
new high levels for the current year
when all graGes displayed an in
crease of Is to IS cents above yes
terday's average.
Improved demand and light sup
plies were the two ma jor factors in
today's session, marking the third
increase for the week. Lightweights
displayed the large advance.
The bulk of 100 to 200 pounds,
was selling at S5.15 to S5.35, while
choice kinds, weighing 200 to 800
pounds, brought $40 to $3.50, best
prices for the year.
Lightweights, scaling 100 to 100
pounds, sold at 81 to $3.50, while
extremely small classes, weighing
100 to 1870 pounds, salable at S2.75
to S375. Packing sows cashed in
at 1918 to S4.65. Receipts num-
bered 4,500; followers, 298.
With initial trading active on
slaughter steers, beef grades and
heifers remained steady. Cows we're
strong to slightly higher. Low
grade steers were salable at S3.75 to
SIS, while heifers sold at Sc down.
Receipts were 900.
Only little trading interest was
evident in the veal market, and
practically all classes held steady at
yesterdays prices. Bulk sold at $6
down. Receipts were 700.
Lamb prices continued unchanged,
with eve and weather grades selling
at 81 to $3.50 Bucks were dis
counted ST. Throwouts ranged
from $3.50 to Sc. Receipts were esti-
mated at 1900.
Porker prices at Chicago held
stationary with yesterdays average
at $5.35 down. Early asking was
around 10 cents higher. Receipts
were estimated at 10000, including
1000 directs; holdoverS, 5000. Cat
tie receipts were $4,000, including
5000 government stock; veals num-
bered $500, including $4,000 gov
eminent calves; market, steady.
Sheep receipts were 1000; market,
unchanged.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
STOCKS BLANKS
TO Be MAILED
U. S. to Take First Steps to
Enforce Securities
Control Bill.
ByLritcd Press

WASHINGTON, Aug. 9-Chair-
man Joseph P. Kennedy of the
securities and exchange commission
announces that registration blanks
for the stock exchanges will be sent
out beginning Monday as the first
step in the governments stock
market control program.
Kennedy asserted that the COM
mission also was completing en-
porary rules regarding registration
Of securities already listed on the
stock exchanges. He said that the
temporary rules would be effective
until July l. 1885, but that any
new liStings on the exchanges must
come under the permanent regula-
tons.
He said the temporary securities
rules would be drafted by Tuesday.
Kennedy said that the commits
sion had conferred with exchange
representatives from Boston, San
SEQ, Los A~~eles Chicago
and New York to prevent any in
justices" in the new licensing and
securities requirements.
He added that they had informed
him that the commissions ideas
were fair and reasonable
Kennedy said that the commits
sion had reached no definite opln-
ion as to whether to exempt small
exchanges from licensing require
ments. Under the law exemption Of
small exchanges is optional.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Government Places Total
Output at 9,195,000
Bales.

81 United Press
WASHINGTON, Aug. drought
burned the 1884 cotton crop TO a
new low level since 1896 with one
exception, a government forecast
show.
The department of agriculture IN
its first formal production estimate
placed the indicated crop at 9,195,-
900 bales, we'll within the taxation
free limits of 10,46O25 bales under
the Bankhead cotton act, and the
smallest crop since 1921.
Texas and Oklahoma suffered
most severe reduction estimates, but
the ravages of the sun will be felt
throughout the entire belt, the re-
port Indicated
Immediately after the report, sec
rotary of agriculture Henry A. Wal
lace summoned officials to discuss
its implications. The estimate was
said to be below any anticipated
by department officials.
Enforce Bankhead Act
1t was said that despite the in
Dictated short production the Bank
head act would be enforced in every
respect. officials feel inaction
would antagonize producers who
limited their crop in anticipation OF
the acts restrictions. Field forces
have been eXhorted by Washington
to speed up distribution of indi-
vidual allotmentS.
The predicted crop was 5,480000
bales under the average production
in the five-year period, 1928-1932,
and 3,852,0C0 bales fewer than last
years crop. The indicated yield a
acre is 1909 pounds, which is above
average in all major cotton growing
states east of the Mississippi river
but below average westward.
Drought took severe toll of cot
ton as we'll as grains, the report
showed. Texas production was
placed at 1882 900 bales or slightly
more than half of 1888 Texas pro-
duction. The department predicted
a yield of only ninety-five pounds
of cotton a acre in Oklahoma,
where every county is designated
primary drought territory The
yield in Oklahoma last year was
208 pounds an acre.
Oklahoma production was 1885,
900 bales in 1888 compared to 509,-
900 indicated for this harvest.
Drought Damage Heavy
The department reported that
drought curtailment also was par
ticularly severe" in western Ar
kansas and parts of Louisiana.
Should the drought continue in
these states" the report said, fur
ther decline in prospects will re-
suit"
1t was pointed out, however, that
adequate rains in the early future
would produce more than average
improvement"
Dry, hot weather of late June and
July has greatly reduced the prob
ability of material" boil weevil
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09

THAT investment bankers have
- made a great many mistakes
can not be questioned in the light
OF present-day facts. That they
took a great many chances they
should not have taken also is OBJ
vious. Good business judgment
should have prevented most of them.
In all probability if they had it to
do over again they would be much
more careful. Their actions have
cost them many of their clients. and
their regulations have suffered Sc
verely.
In addition to being much wiser
today than they we're during the
time they put over many of their
questionable deals, we now have a
law which makes 1t necessary TO
put the proper label on their goods.
To misrepreSent from now on will
be a very dangerous thing for them
TO do. Some think the regulations
in that respect have been a bit too
severe.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Tin Consumption Increased

Union Tank Car Company declared {
regular quarterly dividend OF so cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
On Commission Row
Aug. g.


Quotations below are average retail
prices being offered to buyers bv local
commission house dealers.
Apples-Fancy Delicious. S225: Trans
parents, S1.500175.
Peaches, Georgia, Elbertas. bushel 50 IS.
Oranges-e-California Sunkist S. VAL
Lemops-Sunkist. s66725.
Grapefruit-Florida SeedleSs. 50 25 "a so.
neutrality-suspicious. juniors. fats. 75c;
Pears~Caiavos. $3.50 a box.
observation-disclosures
BananaS-A pound sc.
Vegetables
Sweet Corn-Home grown. doz. 5620c.
Cabbage-Home grown, bushel. S19 90.
Celery-Michlgan at boxes SIPS: me-
dium. doz. 45c.
Onions-California yellow. oO-lb Gag
Potatoes-Eastern Cobblers, 1Oo-lb. bag.
s1.75; Idaho Russets. 100-lb. bag, 50; new
barrel S2.85.
Sweet potatoes-New Alabama Ousnel
s1.60.
Transitional stringless. bushel. s2@2.5O.
Beets-New, Csc a dozen.
Carrots-Home grown. bushel. sl.50; doz.
Caulidower-10s-l1s. crate. S1.75Q2.
Lettuce-Outdoor. l5-lb. basket 8oc;
head lettuce crate. Sc.
Peas-Calitornia. hamper, So.
Radishes-Ohio. so doz. punches, soc.
acknowledgements dozen. 25Q3Oc
Spinach-Home grown. bushel. Csc.
Tomatoes-Home groWn-10-lb. baskets.
Csc; bushel S150.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
TRUCK TAXATION SETS
NEW RECORD IN 1888
Federal, State, Local Government
Revenues Total 1903, $4,000.

BIZ IimCS NpFcldb
NEW YORK, Aug. 9.-Revenue
derived by federal, state and local
governments from motor truck tax
alton climbed to a new peak in
1888 when the more than three
million trucks registered were as
sessed 1903, 467 900 in registration
fees. gasoline and excise taxes, &C
cording to Automobile Facts and
Figures" now being released by the
National Automobile Chamber of
Commerce.
Truck taxes have continued to
increase in face Of a decline in
truck registrations. Though trucks
were but 1872 per cent of the
motor vehicles registered last year,
they paid nearly q per cent of
the special motor vehicle tax bill.
THE climb of motor truck taxes
has paralleled the rise of all motor
vehicle taxes" declared Alfred
Reeves, vice-president and general
manager of the motor organization.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09

issues sponsored by investment
bankers manifests that these bank
ers we're either incompetent or dere-
hct IN the performance Of their
duties
The cor kcs a rather eX-
treme position. Its stand might
even be called somewhat idealistic
and impracticable. vestm Q n I
bankers are merchants of securities.
and as such their relationship to
those with whom they do business
is much the same as the merchant
who sells dry goods or potatoes.
They VIII sell only the type of Sc
curities for which there is a de
mand. and they Will buy only such
securities as thcy can resell at a
profit
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Marriade Licenses

Russell Bennett, "a, of 2236 West Mich
u. of 542 Milev avenue. house maid.
Charles Emery. "A, Pacific Grove Cal,
plant supervisor, and Octavia Heznere 81.
of 148 East Twenty-fourth street. tele-
Herbert Hill 81. Bloomington. cook. and
Ollie Johnson. "a. Of ll9 Douglas street.
Earl Mclaughlin, %. of 3Ols North
Hovey street. public works. and Naomi
Homer Peten. "a. of 2423 villa avenue.
steamftter. and Virginia Shoemaker. 81,
Of 1924 Broadway. stenographer.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
MAJOR GRAINS
STRENGTHEN IN
LIGHT SESSION
Southwest Remains Hot and
Dry: Canada Receives
Scattered Rains.
BY HARTMAN w. NICHOLS
United Press stan Correspondent

CHICAGO. Aug. 9.-Grain mar
ketS held their strength at the open
ing of the Chicago Board of Trade
today.
Wheat started unchanged to IS
cent higher. corn was Is cent lower
to Is cent higher. oats were un-
changed to up 4 and rye was up Z
to a cent.
Weather news was mixed with the
west and southwest continuing hot
and dry There were scattered
showers in parts of the Canadian
provinces but these were considered
by the trade as of little import
ance
Foreign markets were frmer with
Rotterdam up = to cent and
Buenos Aires fractionally higher.
Liverpool started strong while Win
nepeg was up fractions
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Produce Markets

Delivered IN Indianapolis orIces; Heavy
hens, 10c Leghorn hens, &c. 1884 broil-
ers. lbs. and over 13c Leghorn broilers
IA to lbs. and over lie bareback broilers
young gulneas. zoe; old guineas. l5c; No. |
strictly fresh country run eggs, loss of
13c Each full case must weight SIS lbs.
gross; a deduction OF 10 cents a pound
for each pound under SIS lbs will be made
Butter-No. l, 29G30c. Butterfat 2lc.
Quoted bv Wadley Company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Years Cotton Production
at New Low Since 1921

damage this season. the report
stated.
The department estimated that
27.37l 900 acres of cotton were in
cultivation as of July l, represent
ing a substantial reduction from
last years planted area Officials
of the AAA cotton section said the
indicated acreage Appropriated
closely the goal set in their limi-
tation program.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
PIG IRON OUTPUT DIPS
U. S. Production Totals 13,256,932
Tons During Year.

WASHINGTON, Aug. g. The
census bureau announces that the
production of pig iron and ferro-
alloys in the United States in 1893
amounted to 13,256,932 tons, valued
at S204,056, 800, a decrease of 27.5
per cent in quantity and 31.1 per
cent in value as compared with 49,
238,715 tons. valued at S296,2l2,048.
reported for 1881.
Exports of American tin plate in
the first six months of 1884 totalled
97,137 gross tons, a gain over the
corresponding period in 1888 Of 752
per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
New York Curb
(By Abbott, Hoppin & Col,
Chicago Stocks

: tBy Aobott. Hoppin Il Col
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
CAT FANCIERS PLAN
STATE FAIR EXHIBIT
Breeders From All Over
County to Enter.

A four-point cat show with 14O
entries will be held Sept. 6 and 7
at the Indiana state fair attracting
fanciers and breeders throughout
the country
The American Eat Association Of
which Mrs. William o. Bates, 756
Middle drive, Woodruff Place, is
president will hold the stage Sept.
6, while Sept. will be given over
TO the Cat Fanciers Association.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
LUDLUM STEEL NETS
PROFIT OF S375,642
Income Reported for First Half of
Current Year.

By Times Specidt
NEW YORK, Aug. 9.-Ludlum
Steel Company reports net profit
for the six months ended June 30,
after depreciation and taxes, Of
$375,642. After provision for divi-
dend requirements for this period
on the company's 81 per cent pre-
ferred stock, this is equal to $114
a share on 202,155 shares Of dollar
par value common stock. This COM
pares with a net loss of S87,476 dur
ing the first six months of 1888.
Net profit for the second quarter
of this year, after depreciation and
taxes, was s228,774. After pre-
ferred dividend requirements this
was equal to n cents a share on
the common stock. For the second
quarter Of 1888, the company re-
ported net profit of s20,281, since
which time the company has con-
tinuously operated at profit.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Births
Girls

Harold and Vera shumate, 958 Belle
Vieu place.
Maurice and Helen Gray, 20l4 South
State.
Vernon and Edna Alexander, 1917
Lawton.
Louis and Leona Flynn, 1925 North
Colorado
Boys
Omer and Nellie Lingle. 1855 Somerset.
Oliver and Frances Blake, 1912 Blaine.
Albert and Mildred Beck, 946 South
Senate.
Phillip and Dorothy Reidy, 937 Chad
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
CONSTRUCT NEW PLANT
Baltimore Chevrolet Company to
Employ 1,5O0 Men.

By LHftfd PTfss
BALTIMORE, Aug 9-Baltimore
officials of the Chevrolet Motor Co.,
today announced plans for imme-
date establishment of an assembly
and body plant to employ approx
mately one thousand five hundred
during peak production.
Work will start within a few days
on a group Of factory buildings, TO
be erected on a forty-five-acre site
adjacent TO camp Holabird.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Deaths

Thad Garret. so, Long hospital,
John Y. Newhouse. A.. Methodist hos
pital cerebral hemorrhage.
Marlin White. 80. city hospital, military
Anna Batch. is. OF 1917 warman, mitrsl
insufficiency.
Jean Marie Hsndlon. mos. city hos
pital. enteritis.
Madonna Z. steny. mos. city hospital
pertussIs
Hugh Eugene Pair. "a Of 472o East
Twelfth carcinoma.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
G. M. SALES IN JULY
HIGHEST SINCE 1929
Increase of 25.6 Per Cent Shown
Over 1888 Periods.


By Uhited Press
NEW YORK, Aug. 9.-July sales
of General Motors Corporation were
the highest for any July since 1929,
the corporations monthly report
reveals.
July sales to dealers in the Unit
ed States and Canada, plus overseas
shipments were 1884, 1924 units, against
146,881 in June, a decrease of 8.55
per cent, and 106,918 in July, 1888,
an increase of 25,6 per cent. For the
first seven months of 1884 this cate
CORY amounted to 084,6OO units,
against COS, $40 last year, an increase
of 46 per cent.
Sales to consumers in July were
01,243 units, against 112,847 in June,
and 1928 in July, 1888 For the
year to date they were 596,215
against 487,O62 in 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Link Belt Sales Rise

BIZ 7 lUlts NpfcInF
CHICAGO. Aug. 9.-Link-Belt
Company and subsidiaries for the
first six months of the current year
report sales totaled S4,916.6S0
against s3,154,459 a year ago. Cur
rent assets on June 30. were Sl0,S28.-
125. while current liabilities amount
ed TO s6e68 ,952.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Wall Street
Senate Committee Takes
Extreme Stand in Its
Financial Report.
by RALPH HENDERSHOT-
Times special Financial Writer

TN its second report on its Wall
Street investigation the senate
banking committee demands that
investment bankers eliminate from
among their numbers those individ-
uals who do not have the proper
regard for the interest Of investors.
II maintains that only by a thor
ough hOusecleaning can abuses such
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09

CHICAGO. Aug. 9.-World con-
sumption of tin for the year ended
May 80. increased 81 per cent, II
was reported by the New York Of
fee of the International Tin and
Research Development council.
These figures we're 129. 900 long tons
against l0i,76 the year before.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
BUSINESS ACTIVITY OFF
Index Reports Slight Drop TO 81
Per Cent Below Normal.
BIZ Times Special

BIZ 7 lmes bDectnT
WINCHESTER, Mass, Aug. g.
General business activity last week
dropped slightly to IS per cent be-
low normal as compared with "a
per cent below normal for the cor
responding period of last year, the
Winchester Business Activity In
dex reports.
The present activity, however, is
reported to be on a more solid foun-
dation for the advance this fall,
as goods manufactured, with few
exceptions, are being consumed at
about the same pace as produced.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
CHICAGO FRUIT MARKET
BY United Press


CHICAGO Aug 9.-Fruits, vegetables
ALN,les-Mchigan Duchess bushels, 50M
co. Cucumbers- Illinois bushels, 50cM$1;
Michigan, S150M225 TomatoeS-Illinois
Tugs. 50G75c; Michigan. II OTIS, 50Q 75p
Sweet potatoes-Alabama bushels, sl.4CE
$50; Tennessee. s1.90@2.15: Peackes-
Georgia bushels, s2@2.50; Illinois. 81: 75m
2 Lettuce-California crates. S3.50M4
Ohio 10 lbs, leaf. 65q Use: Beans-Illinois
and Michigan green bushels. S1.75m2 .25.
Cabbage-Wisconsin crates, S1.254 80.
Observation-Disclosures, 16 OTIS. red sour, 81 IS
also. Canteloup-Indiana crates, 50M
Use: Michigan, 75cMs1.50 Corn-Illinois
sacks. 4 doz. yellows 35cd Soc Carrots
California, s235@2.60: Illinois punches,
1t2M212c. Peppers-Illinois bushels, 81 n
125 Egg plant-Indiana bushels. S125M
$50 Michigan bushels. 7501.25
Celery-Michigan crates. 5oM 75c. Western
caulif1ower crates. Sl50G1.75. Onion mar
ket 80 ID sacks: California yellows 81
mI25 California whites. sl.65M1.7 IS.
Washington Valenciss, sld1.15. Iowa
yellows, 75M9oc. Indiana whites, s1.50@
75
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Metal Sales Total 114,s55 Tons
By Times Special

~ tmes SpfctGt
CHICAGO, Aug. 9.-Sheet metal
sales during June totaled 114,855
tons as compared with 1876, 438 tons
produced for that month accord
ing to figures compiled by the Ma
tional Association Of Flat Rolled
Steel Manufactures.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Hardware Distribution Higher

CHICAGO, Aug. 9-Wholesale
distribution of hardware in the first
six months from the standpoint Of
both dollars and units showed
gains of from 40 to so per cent over
the corresponding period of last
year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
By United Press

LONDON, Aug. 9.-Gold bars were
advanced a half penny here today
to 1873 shillings l penny, equivalent
to S34.87. with the pound at s5.05.
Gold to the amount Of f403 900 s(2,-
O35.I5O was traded. In franc terms
the pound was quoted at 1887
francs.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
IS Drowned in Polish Bus Crash

by tHttfd fTtSS
WARSAW. Poland. Aug. Eff
teen persons were drowned yester-
day when a bus Of the National
Railways crashed through a fence
and fell into the river Bug, between
Warsaw and BialyStok.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
u. S. DOLLAR STRONG
Gold Price Advances Slightly on
London Exchange.
BIZ United Press

PARIS, Aug. 9.-The United
States dollar was slightly stronger
today, quoted at 1910 1922 cents a
france as against $685. cents franc
in yesterays foreign exchange mar
ket.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
TOBACCO SALES CLIMB
AxtOn- Fisher Firm Attributes
Gain to Aggressive Advertising.

BIZ ] lines Special
NEW YORK. Aug. 9.-Wood F.
Axton. president of the Axiom
Fisher Tobacco Company, an
nounced today that sales for the
first six months of 1884 were the
largest since the formation of the
company in 1899.
Colonel Axton attributes the in
creased business to the aggressive
advertising campaign carried out
by the company last year and the
new factory, constructed when
building operations we're virtually
at a standstill, giving greater pro-
duction facilities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09

a s occurred
between l9 IS
and 1929 De-
eradicated
The invest
ment banker.
the committee
held should
be a disinter-
ested inter-
m e diary be-
tween the lSsu-
in z corpora
tons and the
investing pub
lie. The cOlOS-
sal los S Sus-
tanned by the
public on bond
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
FEDERAL FARM LOAN BONDS
(By Blyth & Co.. Incl
Aug. g.
Home Loan

IS Nav /. 1924 ......... $3.50 10000
As July l, 1851 ........... 10O.O3 10O.O7
Federal Farm Mortgage Corporation
SI4s March is. 196444 100. 101.16 1923
The three latter quotations are in
thirty-seconds.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
In The Cotton Markets
Aug g.
CHICAGO
NEW ORLEAN.
Retail Coal Prices

The foliowing prices represent quotations
tom leading Indianapolis coal dealers A
cash discount OF IS cents per ton Is al
ioues A ascent carving chsrge Der ton
Nill be ADDED,
nONFFSTIC RETAIL PRICES
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
Bond Prices
Bv Fenne1 x x,
U. S. GOVERNMENT BONDS

(By United Press
NEW YORK Aug 8-Closing liberties.
Decimals represent thirtv-seconds.D
-Tiherfv-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-08-09
DUT its efforts we're not very
ID fruitful. Our legislators and

DUT its efforts we're not very
ID fruitful. Our legislators and
other public officials did not APP
pear sufficiently interested at the
time to follow through on its sug-
gestions ana recommendations. APP
parently il was necessary to await a
sufficiently aroused public opinion
before action could be had. No one
thought of a senate investigation
at that time. We we're supposedly
in A new era" and the future was
expected to pay excellent dividends
ON the risks then taken.
It also Is difficult to see how an
investment banker can become a
"disintereSted intermediary between
the issuing corporations and the IN
veSting public" The moment he
does so. Just at that moment is he
likely to be headed toward bank
ruptcy. He can no more afford 10
forget the law of supply and de-
mand than any other business man.
When we are in a buyers market
he will. If he is wise, favor the buyer,
and when We are in a sellers mar
ket. he viii get in his best llckS
with the sellers.