davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
SWINE VALUES
WEAKEN UNDER
HEAVY RECEIPTS
Lambs Strong to rs Cents
Higher; Cattle, VeaIS
Move Lower.

Slight increase in receipts at the
Union Stockyards today checked the
sharp upturn in porker prices which
has been in progress for more than
a week.
Initial sales on practically all
classes of hogs we're weak to mostly
steady at yesterdays average. The
bulk, $50 to $50 pounds, was selling
at $3.50 to $505. Top held at $50.
Light slaughter pigs, weighing
from 100 to 100 pounds, sold at 81
to $3.50, while other small kinds,
scaling 100 to 100 pounds, brought
1925 to $3.55. Packing Sows were
valued at 1925 to $4.15. Receipts
were estimated at 5000; holdovers,
140.
Uneven trading range developed
in the cattle market, with weighty
steers mostly unchanged and other
classes around Is cents lower than
yesterdays close. Top was SO. Heif-
ers remained steady, while best
classes sold at $6.75. Odd-lot
ranged from ST down.
Initial sales on slaughter COWS
were stationary to Is cents lower.
Receipts numbered 1900. Veal
prices declined so cents, holding at
IS to $3.50. Early top held at $3.50.
Receipts were 1000.
Slight strength prevailed in the
lamb market, with several classes
around Is cents higher and others
stationary. Bulk of lambs ranged
from SO to 1925. ThrowoutS sold at
Sc to 81, while fat ewes brought
$3.50 down. Receipts were 1000.
Asking was firm on hogs at Chi
cago with few early bids mostly 10
cents lower than yesterdays aver
age at $3.50 down. Receipts were
estimated at 10000, including 5000
directs; holdovers, 1000. Cattle re-
ceipts were 11,000; calves, 1000;
market steady. Sheep receipts were
5000; market unchanged.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Proceeds Will Be Used to
Retire a IL Per Cent
Bonds.
BIZ Times Special

By Times Special
NEW YORK, June ia new
issue of federal land bank bonds
the first public offering of consol-
idated bonds-the largest amount
ever offered and the first such issue
since November, 1880, was placed
before investors yesterday by ma
tion-wide banking group acting in
cooperation with the twelve fed
eral land banks.
The group comprises Alex Brown
& Sons, the Chase National bank,
Brown, Hartman & Co., 1ncorpo-
rated; Guaranty Trust Company of
New York, the National City bank
of New York, Edward B. Smith 81
Co., the First Boston Corporation,
and Lee Higginson Corporation.
The amount of the issue is $131,-
100000 acknowledgement consolidated
4 per cent bonds, due July /, 1916,
and not redeemable before July l,
1914. At Sthe offering price of
100% and interest the bonds will
yield more than 800 per cent, ex-
empt from all federal, state, mu-
nicipal and local taxation, includ-
ing federal income surtaxes.
Directors Are Appointed
Although not government obliga-
lions and not guaranteed by the
government, the bonds are the Sc
cured obligations of banks operat-
ing under federal charter with gov
ernmental supervision, on each of
whose boards Of directors the pub
lie interest is represented by three
directors appointed by the farm
credit administration.
The bonds are exempt from fed
eral, state, municipal and local tax
alton and are eligible under the laws
of the states for the investment of
trust funds and also for investment
by savings banks. The bonds are
also acceptable by the United States
treasury as security for governments
deposits, including postal savings
funds.
In connection with offering, Sec
rotary of the Treasury Morgenthau
commented as follows:
1.-The federal land banks form an
essential part of the banking system
of the nation. They are established
under the laws of the United States
and operate under the close super
vision of the farm credit admins
tration which is permanent branch
of the national government"
First Public Offering
The present issue constitutes the
first public offering of consolidated
bonds issued jointly by the twelve
federal land banks, which are
jointly and Severally liable for the
payment, when due, of both interest
on and principal of all such bonds.
Proceeds of this issue are to be
used to retire the Az per cent bonds
of the banks which have been called
for redemption July l, thus effect
ing an interest saving of $685. 900 a
year. Holders of called bonds will
receive preferential treatment
wherever possible
On May 81, $1,537 ,66O,640 federal
land bank bonds were outstanding.
of which 5000, 566,160 were held by
the government, or Offices and cor
porations created by the govern
ment under authority of congress.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
On Commission Row

Apples-Fancy Winesaps, $2.25.
Cherries-Home grown, 24-qt. crates. 81
62.50
oranges-California sunkist. $525G6;
Valentias, $4.75@6.
LemonS-Sunkist ST.
OBSERVATION-DISCLOSURES seedless, $464.25.
Strawberries-Home grown 24-qt. crate,
$3.5064.
Raspberries-Southern Indiana black. "a
pit. crate. $225.
$425; standards, $375; Honeydews, $2.75.
Pears-Calavos, $3.50 per box.
Pineapples $3.50@4.25.
Bananas-Per pound. SC.
Vegetables
Sweet Corn-Alabama. 5-dozen crate.
$1.50@1.75.
Cabbage Tennessee pony crate, SIPS.
Celery-Florida, $3.50 crate; jumbo
bunch, soc; medium, bunch. Use.
Standardization round white, 100-lb
bag. SITS; Maine Green Mountain. 81 go;
Colorado McClures, So Idaho RuSsets, 100
ID. bag, 81; new Texas Triumphs, $1.85.
Sweet Potatoes-Tennessee Nancy Hanks
hamper, $2.40.
Asparagus-Home grown. dozen. 65c@
Beans-Round, stringless. s1.6o; Ken
lucky Wonders, SITS.
Beets-New, 45c a dozen.
Carrots-California. 6-dozen crate. 1925;
Caulif1ower-C california, SITS.
Lettuce-Cutdoor. 15-lb. basket. s5c; Ice
Peas--Indiana. $3.50.
RaSishes-Home grown buttons. 'arge
Rhubarb--Home grown. dozen, SOC.
Spinach-Home grown. bushel, Csc.
Tomatoes = Hothouse, 10-lb. basket
s11o original Texas, 3O-lb. lug. $3.50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
FUTURE PRICES
RISE FRACTIONS
IN QUIET TRADE
Current Movement of New
Wheat Expected to
Increase.
BY HARTMAN w. NICHOLS
United Press staff Correspondent

CHICAGO, June 19.-The better
tone which prevailed in grains to-
ward the close of the Board of
Trade yesterday carried over to to-
days opening and prices averaged
slightly higher.
Wheat opened u to q cent high
err, corn was unchanged to p cent
higher, oats were unchanged to up
4 cent, and rye was unchanged to
p cent higher.
Movement of new wheat was ex-
pected to increase today with dry
weather reported in the southwest.
European crop news and news from
the American corn belt continued
bullish.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
INVESTMENT SECURITIES
ADVANCE DURING WEEK
Average of Ten Leading Common
Stocks Rises to 1898.
By Times Special

ID " L tHt6S Cp6Ctut
NEW YORK, June 19-The in
vestment companies common stock
index held firm during the last
week, as evidenced by the averages
compiled by Distributors Group,
Inc.
The average for the common
stocks of the ten leading manage
ment companies, influenced by the
leverage factor, stood at 1898 as of
the close June IS, compared with
1888 on June 8.
The average of the non-leverage
stocks stood at 14.72 as of the close
June Is, compared with 1905 at the
close on June 8. The average of
the mutual funds closed at 1899,
compared with 1926 at the close of
the previous week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
DEPOSITS IN FEDERAL
RESERVE BANKS RISE
Increase of $124,OOO, 900 Is
Shown in Week.
By United Press

By United Press
WASHINGTON, June 19.-De-
poSits of federal reserve member
banks in ninety-one leading cities
increased $124,0OO in the week ended
June Is, to a total of $18,017 900, 900
OBJ, the reserve board announced
today.
Deposits increased $3.50 100000
CD from the corresponding week of
last year. Nearly third of the
gain represented increased govern
ment deposits.
Despite the rise in deposits, loans
of these banks last week fell
100000 to a total of $8,089, 900,
while investments decreased $19,-
100000 to a total of $9,281, 900, 900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
COAL PRODUCTION GAINS
Anthracite Output Estimated at
1,057,00O Tons During Week.
BIZ Tim es SpecinL

DU I IWtS DpBCTuE
WASHINGTON, June 49, Pro-
duction of anthracite coal in the
week ended June was approx
mately 1,057,000 net tons according
to an estimate of the bureau of
mines. Production in the same
week last year was 735,000 tons.
Total soft coal produced during
the week was estimated at 6,150,0O0
tons, as compared with 5,435 600
tons in the corresponding 1888 week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Rug Business Improves
By Times Special

CHICAGO, June 19.-Rug dealers
report sales of summer rugs con-
tinue to exceed last years volume,
despite higher prices than in June.
1888. The higher priced grades of
Oriental rugs are reported being
sold in the largest volume of the
year, many wealthy customers again
entering the market after a few
years absence.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19

ment with a
bank or trust
company, and
that all Off
Gals and en-
ployes must
be bonded in
an amount
greater than
the market
value of the
assets of the
company.
This is a
new depart
ure in invest
ment trus t
f i n a n C ing.
H ere t o fore
honEC inuori
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
COMMON HOLDERS GAIN
U. S. Steel Mails Dividend Checks
to $1,000 in Quarter.

NEW YORK, June 19.-United
States Steel Corporation reports
holders of the companys common
stock on the first day of this month
totaled 190,359, increase of 3,34O
over March l, three months ago.
On June last year there were $780,
019 stockholders.
The preferred stock dividend in
the quarter ended May 81 went to
$1,000 individuals against 62,910 in
the quarter ended Feb. 81. Holders
of the preferred stock on May 81
last year totaled 63,517.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
TYPO EMPLOYERS MEET
Code Provisions Discussed by Fifty
TypOthetae Members.

Discussion of problems of fair
competition, wages and hours as
provided in the printing code was
held last night at an informal con-
ference of fifty employing printers
in the Lincoln.
The conference was called by the
Indiana State Typothetae, admins
trative agency for the code in In
diana. Arthur Randall, president of
the Typothetae, presided.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
CHICAGO FRUIT MARKET

CHICAGO. june iSfA IsS NSicbioo -
spies, .$2@2.50 bushel; Illinois tranSparerlts.
S1.75 bushel hampers. Carrots California
$225M2 40 crate. Spinach-Iilinois, $50
85c bushel Cucumbers-Central western
dollhouse, 75c6S150 e dozen to box
Tomatoes--Texas, 81 lug box Sweet
Potatoes-Tennessee, $1.90 bushel hampers
Asparagus-Illinois, 50@85c crates. Straw
berries-Michigan. $125@2 (16 quarts
Beans-Southern green. $1@1.50; wax, 81
also. Onion Market. Texas-Yellows
s1.75@1.85; Texas whites, $1.55; California
yelloWS $50
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Insurance Volume Increases
BIZ Times Specinl

d y 7 IHbS NpBCTuB
NEW YORK, June 19.-An in
crease of IS per cent in volume of
applications for new life insurance
is reported by the New York Life
Insurance Company for May and
the first five months of this year.
Total applications during May were
22.474, representing $50.850,O00.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
20 Favorable Dividend Changes

By Times Special
CHICAGO, June 19.-Standard
Statistics Company reports favor
able dividend changes last week
number twenty, ten less than in the
preceding week. Unfavorable
changes numbered nine against six
in the previous week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Pig Iron Production Rises

NEW YORK, June 19.-Ferro-
alloys production in the United
States in 1888 amounted to 1885,
602 tons, of which 13,oO0,719 tons
was pig iron. In the preceding year
pig iron production was 8,549 1854
tons and ferro-alloys 231, 709 tons.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Equipments

AlliS Chalmers.
Am Brake Shoe
Am Car & Fdy.'.
Am Loco 100.
Am Loco pfd.
Am Steel Fdy..
Bald Loco ......
Bald Loco pfd..
Burroughs 80.
Case j I........
Cater Tract ....
Deere & Co.
Foster Wheeler.
Gen Am Tank c
Gen Elec ......
Gen r R Sig.
Ingso l Rand 80.
Int Bus Mach.
Int Harvester
Natl Bash Reg.
Pullman Inc 500.
Rem Rand .....
Und Elliot .....
West Air B .....
Westingh lee -.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
GOLD DELIVERIES HEAVY
AT CALIFORNIA MINT
Rich Metal Received at Rate of
7,4O5 Ounces Daily in May. "

INCH MeIaI RecelVe0 at Rate OF
7,4O5 Ounces Daily in May.
By.Times Special
SAN FRANCISCO, June 19.-The
heaviest gold deliveries in many
years were received at the mint
here during May, arriving at the
rate of 7,405 ounces daily.
Total deliveries for the month
was 229, 563 ounces as compared
with 81,134 in May last year. Total
value of the May deliveries was
$8,034, 730.
Of the total, 1899 ounces was
scrap gold, largely jewelry, indi-
eating delivery of 213,664 ounces
of newly mined gold, the largest
total of new gold ever received
here.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
GLIDDEN SALES RISE
May Total Is 1875 Per Cent Above
Same Month Last Year.

By Tunes Special
CLEVELAND, O., June 19.-Glid-
den & Company reports sales during
May totaled $2,922, 1886 as compared
with $2,595 o2O in the corresponding
month a year ago, representing an
increase OF 1875 per cent.
Aggregate sales for seven months
ended May 81 was $16,682 1896
against $12,321, 232 in the same Pc
Rod last year, an increase of 35.4
per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
SWIM POOL VICTIM. DIES
Broken Neck Proves Fatal to
HoOsier Student, II.
BIZ United Press

ANN ARBOR, Mich, June 10. -
William Labarr, II, Tarrytown,
N. Y, and a student at Tristate
college, Angola, Ind, died at Mich
igan university hospital last night
from broken neck suffered in a
game of tag with fellow students at
Angola. Young Labarr was brought
here last Friday.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Two Dividends Declared

BIZ Times Special
NEW YORK, June 19.-Directors
of American Maize-Products Com
pany declare the regular quarterly
dividends of Is cents share on the
common stock and SITS a share on
the preferred, payable June 80, of
record June %.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
CHICAGO PRIMARY RECEIPTS
Cash Grain
INDIANAPOLIS

June ID
The bids for car lots of grain at the
call of the indianapolis Board of Trade,
+; o. b., shipping point, basis 411a New
Wheat, strong-No. 1 red, ss@89c; No.
red 87688c; No hard, 87@88c.
Corn, strong--No. 2 white. SO q SOC; No.
No. WITS yso 75q s NJ NO. y @2ed
No. mixed, 52@53c.
,oats-No. 2 white. 4Oh@411ac: No. 8
Hay. frm-(F. o. b. country points TAX
312c or less rates to Cincinnati or Louis
ville). No. timothy. $12@12.50.
inspections
Wheat11No;. red: cars; Total 2 cars.
cars No. white. 8 cars; No. 5 white,
car; No. 2 yellow. 16 cars; No. 3 yellow,
% cars No. 4 yellow cars; No. 5 yell
low. cars; Nc. yellow. 2 cars. Total
81 cars.
Oats-No. 2 white. 4 cars; No. 3 white
cars; No. 4 white. car Sample white
l car. Total cars.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
MRS. insult IN PARIS
Utility Magnate's Wife May Sail for
U. S. Tomorrow.
By United Press

Dy UWIttU TTtSS
PARIS, June 19.-Mrs. Samuel
insult was in Paris today, planning
to leave for Chicago on the Olympic
tomorrow or the Majestic June %
to join her husband, awaiting trial
on charges of fraud in connection
with collapse of his utilities empire.
"I believe my husband and son
are honest men," she said. "I am
glad to be going home and shall
be happy to be with them"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
New Issue of $131, 400, 900
Offered by Land Banks
OPEN NEW STRIP MINE

Addition Increases Daily Production
of Midland Electric Co.
By Times Special
CHICAGO, June ia new strip
mine at Middle Grove, Ill, thirty
miles west of Peoria, has been
opened by the Midland Electric
Company.
Operations at the new mine are
carried on with twenty cubic yard
stripping shovel and a five cubic
yard electric loading shovel. Output
of the new development brings the
company's daily capacity up to be-
tween 5000 and 5000 tons, company
officials declare.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Income Gain Reported
By Times Special

CHICAGO, June 19-Report of
Detroit Edison Company for twelve
months ended May 81 shows a net
income of $7,438,862 against $780,
943 in the previous twelve months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Wall Street
Investment Organizers to
Dispense With Usual
Bank Trustee.
by RALPH HENDERsHOT-

TN formingfi the Bondholders Mu-
l. tual Corporation, bond invest
ment trust, organizers decided to
dispense with the usual bank truss
tee. Instead one of the bylaws Of
the company was made to provide
that all of its securities would be
deposited with safe deposit COM
pany or under a safe-keeping agree
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Treasury Statements

by United Press
WASHINGTON, June 19.-Government
expenses and receipts the current fiscal
year to June Is. compared with the cor
responding period of the previous fiscal
year:
This year Last year.
Expenses Sc, 729, 318,049.l5 $4,000. 714.3I3.37
Receipts $2,968, 052, 43597 S1957,078 129. "A
Deficit. s3,761, 265, 613.1S s2,94s. $685. 1873 SO
Cash
balance $2.761, 49S, 823.o1 ............
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
New York Bank Stocks
by Abbott, Hoppin g. Co..
Daily Price Index
" United Pres

t6y united PreSSJ
NEW YORK. June 18.-Dun & Brad
streets daily weighted price index of
thirty basic commodities compiled for the
United Press:
1Q30-lq32 average 10O)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
wash Goods in Demand

By Times Special
CHICAGO, June 19.-Demand for
wash goods was well maintained
last week, according to reports, and
stocks have been reduced in nearly
all quarters.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
In the Cotton Markets
June 10
CHICAGO
NEW YORK
NEW ORLEANS
Retail Coal Prices

The. following prices represent quota.
lions from leading Indianapolis coal deal.
ers. cash discount OF IS cents Der ton
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19

CHICAGO. June 1S.-cash grain; Wheat
8c Mo- haFd m S5ai s yampe cegT FndeN naFd
mixed, 57Ac;, No. 2 yellow, ,591a @6ohc; No.
8 yellow, 59&c; No. 4 yellow. 59Hc; No.
yellow. SEC; No. 2 yellow SEC sour; No.
2. white: 6s1sc; No white, 62lac; sample
No. white, 4Sss @43s4c; No. white,
4234c; sample grade white, 42c.. Rye
No sale; BarleyyaaS5s@ssc; quottable, 56c g
OLA. Cash Provisions-Lard, $6.75; loose
$6.25; leaf $6.25; bellies. $3.50.
ST. LOUIS, June 18.-Cash grain: Wheat
In fair demand, 1c higher on red and
z a2c higher on hard No. 2 red, 9Sa a9@!
No. red garlicky Gle; No. 2 hard, 9612c
nominal; No, 5 hard, 91c; Corn-In fair
No. 3 mixed, sic; No. 2 yellow, 60la oslo;
No. yellow, 60c; No. 4 yellow, 5912c. Oats
In fair demand. unchanged; No. white.
45c; No. white. 441ac.
NEW YORK, June l8.-Cash grain:
Wheat-No; red, $l.12Ac; No. 2 hard
Oats-No. 8 white, 53Hc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Local Wagon Wheat
(By United Press)

City grain elevators are paying "a cents
for No. soft RED wheat. Other grades
on their merits.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19

ably have been engaged to act as
trustees. But the banks were fire.
quently imposed upon in the past
under this procedure, and so were
investors Investors often were given
to understand that because a bank
acted as a trustee it was sponsoring
tie issue or, in some cases, guar
anteeing its safety. The truth of
the matter was that the bank was
concerned only with the safe keep
ing of the assets with which it was
intrusted and with the receipt and
payment of funds as directed.
Whether the methods of the
BondholderS Mutual Corporation in
handling this job will prove better
than those used in the past remains
to be seen. Certainly there is less
likelihood Of misunderstanding. And
the cost probably will be smaller
during at least the early stages of
the company's development. More
over, investors will be able to act as
individuals in the case of default,
whereas under the trustee system
it was usually necessary for COM
mittees to be formed and stable
blocks of security holders rounded
up before anything could be done.
Not infrequently these committees
have represented the offending COM
panieS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19

BY James T. Hamill e. Co.
June ia
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
DUT one wonders what would
ID hannen if the hanks should

DUT one wonders what would
- happen if the banks should
suddenly decide they did not wish
to carry such large government
bond portfolios. The answer seems
to come back that they would i'm
mediately turn them in to the Fed
eral Reserve banks. In that event
the government probably would have
to print more money. InaSmuch as
there is reasonable certainty that
the banks will sooner or later desire
to tighten their load of government
bonds, one wonders why the govern
ment does not issue the money to
meet its needs in the first place and
save the interest on the bonds.
This, of course, probably would
force the banks either to cut the in
tereSt rates they pay on deposits or
to seek investment in industry With
proper credit facilities industry no
doubt would forge ahead and the
banks investments would become
increasingly safer But if they
figured it a better alternative to re-
duce interest rates on deposits, no
doubt depositors would invest their
money direct in industry. Well,
anyway, it's worth thinking about,
for it's going to take a heap of taxes
TO meet the governments debt
service when it gets all through.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
FEDERAL FARM LOAN BONDS
(By Blyth & Co., 1nc.)
June 19-
Home Loan

As July l. 1851. 101.07 101.l2
Federal Farm Mortgage Corporation
3As March Is, 1964-44. 1923 102.02
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
.EMPL OYMENT ADVANCES
Rubber Industry Using IS Per Cent
More Workers Than in 1888.

More Workers Than in 1888.
By Times Special
CHICAGO, June 19.-Despite sub
stantial inventories of producers OF
tires, the rubber goods industry has
maintained good standard of
operations.
Employment in the industry is
approximately IS per cent above
year ago, and hourly earnings are
nearly on a par with those of the
peak years of 1928 and 1929.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
Money and EXCHANGE
FOREIGN EXCHANGE
INDIANAPOLIS BANK CLEARINGs

Clearings .................$1, 971 900 90
Debts ), $50, 900 90
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-19
ONE of the most unusual features

NNE of the most unusual features
~ of the present financial situa-
ton is the fact that United States
government bond prices have been
going up at time when the debts
of the country we're rising rapidly
and when income was falling far
short of meeting the nations ex-
penses. Ordinarily under such cir
cumstances prices would be declin4
ing.
The answer to the riddle probably
is to be found in the fact that these
bonds can be converted into cur
rency at any time by taking them
to the Federal Reserve banks. and
also because the reserve banks have
made heavy purchases in the open
market every time there we're
definite signs of weakness. This
made them particularly attractive
to banks and other large institutions
which desired to remain liquid.