davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14
Wall Street
United States Steel Plant Depreciation Is More Than
Fourth as Much as 1t Pays Employees.
BY RALPH HENDERSON,
Times Special Financial Writer

The United States Steel Corporation probably the largest industrial
n be
nomcay profitable deducted than onequarer
figure S459
III, roll of S63l495O3
report OF than
despite little nothing OF the
virtually bonds outstanding
OBLIGATIONS having retired through The sale OF common
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14
NEW YORK CASH GRAIN

DU CWtItU TTtSS
NEW YORK. March 18.-Cash grain:
2 red, S1.057s; No. hard
winter s1O5%. Corn-No 3 mixed. 594c'
Oats-No. 3 white 447sc
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14

stock in the good old days" 1t paid but per cent
on its preferred stock in dividends.
The mammoth company supposedly has the best
management that money buy. This management
is supplemented in its efforts by the firm Of j. P
Morgan & Co. which takes more interest IN its opera
tions than in any other company with which it is
identified That the prices it charges for its products
about all the traffic will bear is indicated by the
fact that two Of the largest users Of Steel General
Motors and Ford. have decided to build their own
steel plants in the interest Of saving money on their
steel costs.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14
Bank CIearings
INDIANAPOLIS STATEMENT
TREASURY STATEMENT

March IA
CIeaFlQRS - = % SSO' OOO' ~
Debts .....-...... .ss.ss's'. ,ozo,OUO'UU
TREASURY STATEMENT
BIZ United Press
WASHINGTON, March 14.-Government
expenses and receipts of the current fiscal
year to March II, compared with the cor
responding period OF the previous fiscal
year:
This year. Last year.
Expenses s4,478 543. AZ $500, $50, $50 o
Receipts 5000, 761, 410.07 Sl,294, 574, OF
Deficit. s2,435, 78l, 83O.35 s2,226, O76, 406.O3
Cash
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14


Assuming depletion depreciation
its take the
Of a which
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14

Retail Coal Prices
aAoT neO9M,rsTIC RETAIL, PRICES

The following prices represent quota
tions from leading Indianapolis coal deal
ers. cash discount of Is cents per ton
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14
Lack of Business Big Factor

Obviously Of course its chief troubles in 1888 were
that there not a sufficient amount Of business
available to keep its plants working at high percent
of canactV Its plants are large and unMieldY
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-14
Bright Spots

(By Abbott Hoppin g. CO..
Chicago & Northwest railroad total car
loadingS for week of March 10, were 49,
Evening star., 1934-08-03
FIANCEE BELIEVES
SUSPECT INNOCENT
Margaret Grain Denies Robert
Edwards Could Have Slain
Freda McKechnie.
By the Associated Press.

By the Associated Press.
wILKES-BARRE. Pa. August 81
With investigators theorizing that
Robert Edwards killed 26-year-old
Freda McKechnie because she had
been replaced In his affections, Mar
garet Grain, Edwards fiancee, asserts
her belief in his innocence.
Miss Grain, 23-year-old music
teacher, came here from her East
Aurora, N. Y, home last night,
maintaining she didn't do 1t; know
he didn't"
Assistant District Attorney J. Har-
old Flannery says Edwards has ad-
mitted hitting Miss McKechnie with
blackjack and dragging her BODY
into Harveys Lake, where 1t was
found Tuesday. Divers yesterday re-
covered q blackjack.
Flannery last night advanced the
belief that Edwards, mining sur
veyor, was driven to the killing by
the necessity Of choosing between the
two girls.
In East AurorA the mother Of Mar
garet said her daughters engage
ment to Edwards was announced
about six months ago. They met at
Mansfield (Pa) State Teachers Col
lege three or four years ago. she said.
Evening star., 1934-08-03
BISHOP SAYS PRESS
AIDS WAR FORCES
New York Methodist Says Church
and Newspapers Could
Prevent War.
by the Associated Press.


CHAUTAUQUA. N. Y, August s.
The press Of this country is lending
Itself too largely to forces that tend
20 make war" in the opinion of
Bishop Adna w. Leonard of the Pitts
burgh, Pa, district of the Methodist
Episcopal Church.
Superficial reasons for war are no
longer regarded as seriously as they
once were." Bishop Leonard said in
an address on "the next step in pre-
venting another war"
This may indicate growth of
greater brotherhood throughout the
world.
ut is not necessary to have an
other war. 1t not only is possible to
avoid war, but possible to make war
impossible"
The bishop gave FIVE steps he be-
ieves will prevent war.
The United States owes it to her
self to take position of intelligent
neutrality" he said.
America should warn the world
that she win not deal in long term
loans or short-term credits.
Compulsory military training
should be abolished.
American citizens in foreign coun-
tries should discourage armed con-
hict.
Il have great respect for the press,
but the press Of this country is lend
ing itself too largely to forces that
tend to make war. Press and church
have the power to make war ahso-
lutely impossible"
Evening star., 1934-08-03
BEATS NIGHT WATCHMAN
IN LIQUOR WAREHOUSE
Colored Man Gets Away With
Several Dummy Bottles In
Store window.

Charles Flanagan Of 1920 Michigan
avenue northeast. 56-year-old night
watchman, was severely beaten and
disarmed by q colored man he sur
prised breaking into the z. d. Gilman
wholesale liquor warehouse, at GA In
dinana avenue, early this morning.
Attracted to the warehouse by the
sound Of breaking glass, he found the
window Of the place smashed, but no
one in sight. Suddenly he was struck
ON the head with a heavy weapon. Two
other blows were dealt before he could
draw his pistol. Weakened BY the
blows, he was unable to prevent his
assailant snatching away the gun. An
automobile found nearby is thought
by police 10 have been deserted by the
would-be burglar.
Bottles in the liquor store show
window, which apparently attracted
the colored mans attention, were
dummies
Evening star., 1934-08-03
RECOVERY
SEEN AT A CRISIS
Business SIumps for First
Time Since Climb Out
of Depression.
BY the Associated Press.

BY the Associated Press.
LONDON, August 3.-Parliament
adjourned wednesday with British re-
covery at a crisis.
For the first time since 1882, when
Britain began her steady climb out
of the depression, business activity
has slumped.
The drop is a slight one, but it Is
the first, and the dominant economic
question is whether it Is merely tenn
porary or the initial sign of serious
recession in the near future.
Whichever it turns out to be, OBJ
servers say, the limits to Britain's re-
covery will be reached at point well
below her pre-depreSsion prosperity
unless there is an upward trend In
world trade.
Caused by Internal Demand.
The reason is that the recovery
to date has been fashioned largely
out of internal, not external, demand.
Belief that there are limits to such
a prosperity has been voiced by Rupert
E. Beckett, chairman Of the West
minister Bank, who said: "The British
people can never gain real prosperity
merely by taking in each others
washing"
Experts ascribe Britain's present
recovery to two factors: That the
country has been able to get its
nerve back and that behind the
tariff walls erected in 1881. she has
been able to gain a larger share of
her domestic market.
In the 1881 crisis her adverse trade
balance was mounting and the outflow
of gold increased, resulting in the
formation of a national coalition gov
ernment, departure from the gold
standard and abandonment Of free
trade.
With the removal Of doubts regard
ing the general stability of sterling
and other factors both internally and
externally, the time arrived. analysts
point out, when business and the pub
lie could no longer postpone buying,
whether 1t was for repair of giant
plant or the purchase Of new suit
of clothes.
Money to Spend.
Unlike many countries, the British
public and business had not lost
money through bank failures SO there
remained money to spend and when
the time came to spend the tariff had
meanwhile been put into operation so
that the bulk Of the resumption of
activity was reflected at home.
The impetus Of the wave of huying
extended to almost all phases Of the
country's economic life and the Ques-
ton being asked now Is whether that
impetus has exhausted itself or
whether there has merely come q
breathing spell for q fresh drive up
ward. -.
Evening star., 1934-08-03
.SPA|N'S LEFT|ST
LAWS FACE Ak
Congress AdiournS With
Promise to Erase So-CaIIed
Reforms in Fall.
BY the Associated Press.

BY the Associated Press.
MADRID, August 3.-The Spanish
Congress is taking its first real vaca-
ton since the republic was estab-
lished, preparatory to a Fall and
Winter session expected to be long
and difficult, with possibilities of i'm
portant revision of the constitution in
prospect.
Three months rest recently was de-
creed, and Deputies are slated to take
up their task again october l.
The last session was significant in
the development of the new regime,
as it was the first sitting of the
first regular Congress under the re-
public
The promise Of important revision
developments is indicated by the
start along this line made during the
session Just closed. The overwhelm-
ing Center and Rightist Republican
majority has an ak ready for much
of the so-called radical Leftist and
Socialist sponsored legislation placed
on the books during the first two
years of the republic.
Socialist Threat Fails.
The first important step was re-
peal of the Socialist law providing
workers of one section may not be
employed in another so long as there
are laborers idle in the employing
district. This was causing some
trouble, as unemployed bricklayerS
were being given work as threshers.
and so forth. to the detriment of
agriculture and industry.
The Socialists promised violent
manifestations, general strikes and
other disturbances if the law were
repealed.
Nothing much happened, however,
when 1t was repealed. A nationwide
farm strike, protesting the repeal,
was failure. The Right and Center
majority, emboldened by this col
lapse of threatened reprisals, are
prepared to go much further.
There is already a project for the
complete revision of the agrarian
reform being drawn up. This would
remove many of the teeth of the
reform, especially regarding payment
for con1iscation of property, restrict
ing the property available for con-
fiscation and assuring land owners a
fair price for conflscated property.
Several labor laws, deemed Socialistic
in character, are slated for erasure
from the books.
Budget Is Problem.
The repeal plans constitute only a
part of the extensive labor Congress
faces. The 1888 budget will come
UP for discussion almost Immediately
with ambitious projects being pre-
sented by the government toward de-
crease in official expenditures de-
signed to bring about a budgetary
balance within three years.
Then, too, the composition of the
cabinet is occupying all political
minds nowadays. Forecasts are nu-
merous that Premier Samper will re-
sign shortly after Congress recon-
venes- AS the head of a minority
government he is dependent largely
on the closely allied popular agrarians
Of Gil Rohles. with lit Deputies, and
the Catalonian RegionalistS of Ven
toSa and Cambo, with 26 Deputies,
for his majority.
1t is considered likely that ma
jarity government will be formed
which would include these two par
ties in the cabinet, instead of the
present system whereby they CO.
operate but are not represented by
ministers in the government.
Evening star., 1934-08-03
NEW AIR SERVICE
SPURS TRADE WAR
Transport System Between
United States and
Rio de Janeiro.
BY the Associated Press.

By the Associated Press.
NEW YORK, August S.-The air
race for trade supremacy IN South
America goes merrily forward from
the capitals Of Europe and the United
States.
Two OF the latest developments have
taken place In the United States this
week. One Is the start Of q new high
speed air transport system 10 Rio de
Janeiro and South American ports by
Pan-American Always. The other Is
the Inauguration of an international
air-railway express service.
Mail Time Cut Half.
France this week improved upon its
air-water mail service to cut in half
its mail time from Paris to Bueflos
Aires. This three-and-a-half day run
equalled the German airmail service
set but little earlier.
Pan-American Airways new system
Is based on the use OF six new super
flying boats capable OF carrying 3S
passengers and a ton of airman and
express.
The new ships viii form the basis
for the high-speed express service In
augurated In Miami this week TO
South American and Latin American
ports.
Serves Many Nations.
The express service. operating joint.
ly between the American Railway Ex-
press Agency, domestic air lines and
Pan-American, will serve % South
and Latin American nations and coll
onies and the United States.
Meanwhile, the German Zeppelin
Co. of DR.. Hugo Eckener has contract
ed with the Brazilian government for
20 trips annually between Germany
and Rio de Janeiro for the next 30
years in exchange for important credit
and tariff concessions. More than
81 900 900 Is being expended on Yep
pelin base in Rio.
Evening star., 1934-08-03
SCHACHT TAKES
FINANCIAL THRONE
Powers OF Reichsbank Head,
Now in Cabinet, Unequaled
In Modern Finance.
ny sis Assotsatse Prev.

ny ths Associated Press.
BERLIN, August 3.--Tail, angular
Hjainar Schacht, president Of the
Reichsbank and GerTnany's financial
leader. stands forth today from the
confusion Of President Won Hinden-
burg's death az an economic and
financial dictator" with powers un-
euualed in modern finance.
Through his appointment as acting
minister Of economics for period OF
six months. temporarily replacing DR..
Kurt Schmitt because Of the latter's s
I'll health. schacht assumes an almost
unheard-of concentration Of authority.
In addition 10 his former extensive
influence as president OF the Reichs-
bank, virtually controlling Oermany's
financial politics, DR.. Schacht now
acquires the extensive police powers
controlling industry granted to
schtnitt by cabinet decree on July 4.
Becomes a Minister.
Hitherto he has attended cabinet
sessions in a consultant capacity.
Now he will attend as minister.
Two other factors bring the f1nan-
eial leader into a position unique in
affairs OF the Third Reich. He is now
regarded as standing almost shoulder
TO shoulder with Hitler so far as his
influence on the new Germany Is
concerned.
In the first place. there is recogni-
ton by the Hitler government of
Schacht's admitted skill as a finan-
cier, a skill which the Nazi regime
must continue TO rely upon
Secondly, there Is the ever increas-
ing significance Of Gernany'S eco
nomic difficulties, entwined. with lack
Of foreign exchange and virtual stop
page Of raw material imports.
Hitler, In the opinion Of foreign
economic experts here. will place few
obstacles In the path OF his new eco
Monies minister, regardless of what
policies or program the latter may
originate.
The fuehrer is considered fully
aware of the seriousness Of Germany's
economic position and confident Of
Schachts Judgment in such matters.
This has prompted the belief that
transfer OF Schmitt's powers to
Schacht may become a permanent
shifting of responsibility.
Hitler Faces Struggle.
1t Is in the matter of national
economy that Hitler in his new role
as both Reichs President and chan
cellor viii have his greatest struggle
during the coming Fall and Winter.
The lack Of raw materials already is
hampering industrial unemployment
relief projects. The coming Winter
Is expected to see thousands of work.
ers made jobless through both lack
Of raw materials and foreign markets
for German industries.
How to keep the promises Of his
party as regards employment may
therefore become the most difficult
test of the ability of Hitlerism to en-
dure.
In this problem DR.. Schacht, who
now assumes the duties OF the acting
minister of labor in Prussia as well,
will be Of vital importance.
The newspaper Boersen Zeitung,
commenting on Schacht's appoint-
ment, declared "the problem of lob
creation which hitherto in such a
victorious manner has been solved de-
pends closely In It's further course on
the supply Of raw materials"
Evening star., 1934-08-03
LABOR CARDS DROPPED

NEW YORK. August 3 Cpl.-Mayor
F. H. La Guardia ordered the Police
Department yesterday to abandon its
plans for registering credentials Of
labor leaders and issuing Identification
cards 10 them.
Police Commissioner John F. ORyan,
who had been criticized by union
leaders and others for fostering the
Identification program, disclosed ii
originally had been suggested by the
mayor at the request Of labor organ
iEationS.
Evening star., 1934-08-03
73 WEDS %

Daniel Ragin, Farmer, Marries
Isabelle Mercer.
A six-month romance eliminated
in marriage yesterday for Daniel
Ragin. 73-year-old farmer. and Isa-
belle Mercer, %, both Of Alexandria.
Va In order 10 avoid questioning by
friends the couple secured their
license and were married here.
Ragin is the grandfather Of two
children His bride is the daughter
of Mr.. and Mrs. P. Mercer and a
former student Of Alexandria High
School.
Evening star., 1934-08-03
MAI. H0BSON RETURNS

After years absence. Mai. Will
liam II HobSon. Infantry, has re-
turned to Washington as member of
the incoraing class at the Army War
College
Since the World War Mai. HohSon
has served two four-year details as
commandant of the r. o. T. c. at
Georgetown University. He left here
last year for duty with the 2oth In
fantry at Fort Benning, Ga. Mai. Hob
son was admitted TO the United States
Military Academy from Tennessee and
in 1924 was distinguished graduate
Of the Command and General Stan
school.
Evening star., 1934-08-03
Russians to Be Polished. "

"Social polishing" is the object Of a
campaign started in Moscow and Len
ingrad and expected to extend to all
Soviet Russia. The young are TO be
taught "the necessity for developing
cultured speech, taste for stylish but
quiet clothes, and good manners"
Negligent attire and vulgar speech are
decried.
Evening star., 1934-08-03
MIkLAS INTERVENES,
SAVING DOOMED NAZI
Austrian Sentenced to Death by
Court-Martial for Having
Explosives.
BY the Associated Press.

BY the Associated Press.
VIENNA, August 3.-President vii
helm Miklas today commuted the
death sentence of a NaA to life i'm
prisonment.
The Nazi is Edward Hoenisch, "a,
who was sentenced to death by a
court-martial for possession OF explo-
Sives. MiklaS intervened in time to
prevent the hanging. scheduled for
$3.50 pm.
Both Hoenisch and his young wife
collapsed as the court imposed the
extreme penalty. Hoenisch was the
second to be sentenced to death under
the anti-terrorist decree which the
late Chancellor Dollfuss promulgated
as one of his last acts. HoeniSch,
however, was the first to be ordered
to death for the mere possession Of
explosives.
Evening star., 1934-08-03
CHURCH OF NATIVITY
WILL HOLD CARNIVAL
Rev. John F. Fannon Announces
Plans for August 6 to Is
on New Grounds.

The annual carnival Of the Church
of the Nativity win be held from Au-
gust 6 to Is at the church's new
ground on Thirteenth street, between
Peabody and Qusckenbos streets, it
was announced by the pastor, Rev.
John F. Fannon.
Certain nights have been desig-
mated for organizations, which viii
attend in body on the nights named
They are: Irish Societies, August s:
Catholic Daughters, August 8;
knights Of Columbus, August 10: Holy
Name Society, August l3, and the B.
V. NJ. Sodality, August Is.
A parade will be held prior 20 the
opening, and a number OF features
have been arranged.
Evening star., 1934-08-03
BY CYRIL A. PLAYER.

Paul Ludwig Hans Anton Won
Beneckendorff und Won Hindenburg
was born. f1guratively, into the Prus-
sian Army. That was predestined for
son Of his hard-bitten race. Usage
shortened his name to two-Paul Won
Hindenburg. History is contens with
one. As Hindenburg, he became the
most singular legend, not only of Ger
many but of our times: Incredibly
surviving disaster, disillusion, political
chaos, intrigue, old age, and even
fame.
Before he was s months old. the
shadow Of war enveloped his cradle.
All over the world, ylen and ideas
were astir. He himself was to wage
war against Austria in 1866; win
further honor in the Franco-Prus-
sian War; see the dust from the
chariot wheels of the captive Ma
poleon: look on the face of Bismarck
and on that of William I; witness
the birth Of the empire. its ascend
ancy to the heights, its crash to the
depths; himself. in war under the en-
pire, in peace under the republic,
was to stand at the head Of the Ger
man nation; in the end, to march
away to Valhalla. a legend, while a
tormented Germany writhed in the
pangs of the third Reich Of Adolf
Hitler.-Go Gotterdammerung.
Born In 1S47.
He was born October 2, 1847, In a
little house of Posen (now the Polish
Poznan); soon to be demolished, 1t
Is now remodeled and its lower por-
tion carries the sign of a seller OF
Polish school books. 1t was In this
home that-Maj. Robert, the father,
being on the march with the German
troops-only the mother (Luise
Swickart, servant, and the infant
Paul were left when Gen. MiroSlawski,
leader of the Polish insurgents,
marched into Posen and ordered all
front windows illuminated in celebra-
ton of the Polish victory.
There was, the field marshal later
recorded, a rumor that all Prussian
officers were to be slain. But Paurs
mother, despite her heavy heart, pre-
tended that she was celebrating the
Prussian crown princes birthday
rather than the Polish victory. The
"old gentleman" as Germany came
to style Paul Won Hindenburg, always
cherished this story, the more so since
it was in the east that he planned,
and later remarkably fought, his
greatest battle.
1t was the writer's privilege to meet
and to know President Won Hinden-
burg. The first time was in 1925,
shortly after Hindenburgs first elec-
ton to the Reich presidency, and
the occasion was the late afternoon
hour when the President would walk
in the garden back Of the presidential
residence, accompanied by his daugh-
ter-in-law and his grandchildren. A
stifhsh, upright old gentleman, In
those days, with a vest that but
toned up almost to his collar stud
but able to stoop slowly. gather UP
the ball and throw it as prize for
which the two little children raced
A strange contrast to the wooden
Hindenburg" of the war, into which
patriotic Germans drove the iron
nails. The last occasion was in 1881,
when the Bruening regime was
Evening star., 1934-08-03
MARINE POST AWARDED
BUILDING ALLOTMENT
Quantico Contract Given to Min
ter Homes Corp. by Navy
Department.

A contract for $l74,000 for COM
pletion of bachelor officers quarters
at the Marine Barracks in Quantico.
Va, was awarded by the Navy De-
partment today to the Minter Homes
Corp. of Glyndon, Md
This is part of the general i'm
provement program now going for
ward at Quantico. The contract was
awarded by the departments Bureau
of Yards and Docks.
Another contract for $500 was
awarded a San Francisco firm for
insulating covering at the central
power plant at the Mare Island,
Calf, Navy Yard.