The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-29

Highlights of the
News During the
Last Week.
by VINCENT S. LYONS
Times Financial Editor

THE best Christmas trade that
Il the country has experienced
since the appearance of the de-
preston was punctuated on Mon
day by last-minute rush Of buy
ers. A shortage in poultry and
eggs with resultant mounting prices
was visioned by Frank Priebe, pres
ident of the Institute of American
Poultry Industries. Steel opera
tons registered their tenth con-
secutive increase during the week,
rising to 35.2 per cent of capacity.
49,. The Mississippi Valley Commit
tee of the Public Works Admins
tration in lengthy report declared
that over the next 20 years the
Government could spend $1,000
900 1000 on river works in the valley,
so per cent of which would be self
hquidating. D. Pointing to several
twO-way signs on the economic
horizon at present. Edward A.
Filene, Boston merchant, termed
the outlook for 1885 very bright
and very dubious" -. The Federal
Housing administration reported
that home moderni7ation permits
in November registered an increase
Of 81 Der cent over the correspond
ing month last year. The
American Federation of Utility In
vestOrs announced that the Organi-
zation will send a petition to Con-
gress protesting threatened Govern
ment competition in the public
utility industry. More than
$1,000 100000, or the equivalent OF
SIS per person. was expended on
liquor during the first year Of re-
peal, according to estimates made
on the basis of Treasury figures.
INDUSTRIAL production in No
l. vember and December showed
smaller decline than is customary,
according to the Federal Reserve
Board. Retail sales generally were
we'll maintained and freight car
lOadings slipped less than the usual
amount, the board added. =. Rep.
Treadway r., Mass.) of the House
Ways and Means Committee came
out for a 81 per cent tax on man
ufacturers' sales and estimated that
the levy would raise S450,000000 a
year. Congress has no author
ity to fix prices, even in interstate
commerce, Judge Merrill E. Otis
held in an opinion filed today in
United States District Court at
Kansas City. Virgil Sheppard,
director of the Bureau Of Business
Research of the indianapolis
Chamber of Commerce. points out
in a tabulatiOn that about 70 per
cent Of gross income tax collections
in Marion County is used for sup
porting schools in other counties
and only 80 per cent is returned to
indianapolis. The United States
Supreme Court was asked to re-
consider its recent decision under
which i've publishing companies
would be forced to stand trial on
charges of having violated the
Sherman antitrust laws. . Floyd
B. Odlum, president of the Atlas
Corporation, large investment COM
pany, expressed the opinion that
the best chance for appreciation
and income return on invested
capital lies in the United States.
The proposed national stock
buyers code was flayed by 100
small livestock buyers of Indiana
in a meeting held at Kokomo.
CEMI-STREAILINED body and
- important engine changes were
shown in the new Ford vs., which
was exhibited this week. e.. Elec-
trio power production last week
totaIed 1,787, $4,000 kilowatt hours,
an increase of TO per cent over the
corresponding week last year and
the best figure in four years.
The. Northern Indiana Public Serv-
ice Co.. the Traction Light and
Power Co. and the Northern In
diana Power Co. asked the Public
Service Commission to reduce rates
by s6O3, 1872. The slash would af-
feet 129. 495 customers in Asst towns.
Return to a fixed gold stand
ard by America was urged by 80
economists, the American Economic
Assn. said. The right to for
mulate its own fair competition
rules and complete revision of Ia
Dor clauses under the NRA to pro-
tect employees against coercion was
demanded by the United States
Chamber of Commerce. Relief
Administrator Harry L. Hopkins
announced that starting Feb.
states. counties or local communi-
ties will be required to take care
Of their own unemployable persons.
Imports and exports OF the
United states in November regis
tered increases over the same
month last year, according to the
Department of Commerce. New
York City Federal Reserve mem
Der banks added s26,OOO,OOO of Gov
eminent bonds to their portfolios
during the week ended Dec. 20,
bringing the total expansion IN the
last five weeks to s273000,0OO.