davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
FEDERAL AIMS
HELD CAUSING
TEXTILE STRIKE
NRA Labor Policy and u. S
Cotton Control Plan
Cited in Report.
By Times Special
- ~--

By Times Special
NEW YORK, Sept. 18.-The NRA
labor policy and the governments
raw cotton control program are re-
sponsible for the unfavorable con-
ditions against which labor in the
cotton textile industry is now strik-
ing; the Alexander Hamilton 1nSti-
tute declared today.
Reviewing problems involved in
the present textile workers strike
the institute asserts that the sharp
rise in the price of raw cotton and
in wage rates necessitated such an
increase in prices of cotton textiles
that the demand was severely cur
tailed. Consequent reduction in
cotton mill activity made it lmpos-
sible to provide labor with satistac-
tory working conditions.
Consumption Declined
Consumption of raw cotton by the
mills declined from $4,000 bales to
5 $1,000 bales during the year end
ing June 80, the first twelve-month
period during which mills operated
under the NRA, the review said,
adding that because of NRA labor
policy, this curtailment of mill ac-
tivity was not accompanied by a
laying off of workers. Instead, the
number of employees increased dur
ing the year from 408, 900 to $4,000.
LAS an offset to this reduction in
hours" the institute said, "the NRA
provided for an increase in wage
rates. Wage rates were consequent
ly advanced during the year from
22.5 cents per hour to 1871 cents per
hour. The workers weekly earn
ings were consequently not reduced.
They amounted to $10.97 in June
this year as against $10.95 in the
same month last year.
Despite this maintenance OF
earnings, however, labor discovered
that it was worse off this year than
last year because of the rise in the
cost of living. The purchasing power
of the worker was reduced because
high wage rates made for high
prices and high prices neceSSitated
the curtailment of working hours
so that high wage rates failed to
provide the worker with an increase
in earnings corresponding to the
rise in prices.
Labor Misses Point
Labor, however, failed to realize
that the development of unfavorable
conditions was due to a consider
able extent to high wage rates and
curtailed hours and consequently
demanded, as a solution to its prob
lem, a further increase in wage
rates.
I'm other words, labor is demand
ing a measure that will make its
condition worse instead of better.
Labor is consequently on a strike
because of the mill owners refusal
to yield to labor'S demand although
this refusal is for labor'S own good.
ut is thus evident that for the
good of themselves, for the good of
labor and for the good of consum-
ers, mill owners can not give in to
the demands of labor, especially since
the need is for a reduction in wage
rates in order to provide fair profits,
reasonable prices and enough work
to sustain the mill hands purchas-
ing power.
"a revision of the NRA's labor
policy is thus needed and also a
modification of the governments
raw cotton control program, since a
complete solution of the problem is
also dependent upon lower cotton
prices"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
BANK
HIT BY WILLIS
Reserve Board Aid
Says Political Tinkering
Causes Disaster.

That political management of
banking and especially Of central
banking has proven, must invariably
prove, the ultimate, the all-compre-
hensive, curse upon a nations
finances and business is the conclu-
sion voiced by DR.. H. Parker Willis
former executive secretary of the
federal reserve board, in the Fitch
Investors Services current study Of
this pressing subject.
What is wanted" he says, "is to
consolidate the entire control OF
bank credit in the hands of the
treasury. The purpose of such con-
solidation is to bring about a COM
plete power of directing credit. Our
government advisers have never
abandoned the notion of directing
the course of commodity and secur-
ity prices by debating the discount
ing and open market policy of CEN
trail banking-a notion widely ad-
vocated in Great Britain.
with an actual banking mechan-
ism at the beck and call of the
treasury, it would be easy to order
the creation of central bank credit
or reserve credit" when desired.
ct is this political interference
with the discount rates, eligibility
systems, and oftentimes the person.
mel. which from the very opening of
the reserve banks has been the
great curse of the undertaking, and
at times has threatened to bring
down in open disaster, the entire
structure of reserve banking.
1T was this same sort of political
tinkering and dictation which, in
the earlier experiments with central
banking in the United States, in
variably caused disaster. 1t will
have a like result on this occasion
indeed, is already eXerting pre-
cisely the same sort of influence as
on former occasions"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
FINANCIAL STRAWS

The committee for the first
mortgage bonds of the Celotex Com
pany has agreed to support the re-
organization plan proposed by the
reorganization committee, William
B. Nichols, chairman of the COM
mittee, announced today. The ar
rangement between the two COM
mittees vas reached on the basis of
certain changes to be made in the
original plan of reorganization. AS
a result the new first mortgage
bonds are TO be dated Sept. l, and
will bear interest at 61a per cent
from that date.
The refunding operation for the
city Of Detroit which has consti-
tuted the largest undertaking of its
kind ever carried out will be brought
to a final conclusion in November
when the new refunding bonds will
be issued to bondholders, it was in
dicated today in an announcement
by the bondhoiders refunding COM
mittee, Of which D. A. Tompkins,
vice-president of Bankers Trust
Company, New York, is chairman.
Sales of the "Terminix" division
of the E. l.. Bruce Company, largest
hardwood flooring manufacturers in
the world, for the first eight months
were SO per cent abS7e the sans
1888 period.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
MEMBER BANKS PROP
U. S. BOND HOLDINGS
Expansion of S53, 10000 900
Is Shown During Week.

By Times Special
WASHINGTON, Sept. 18.-Hold-
ings of United States government
securities by Federal Reserve men,
Der banks throughout the country
expanded 100000 during the
week ended Sept. u, according to
figures issued today by the federal
reserve board. In recent weeks the
institutions had been reducing their
holdings of federal obligations.
AT the same time a S14. 900, 900 in
crease was reported in all other"
or commercial. loans. Net demand
deposits rose from S12, 946, O00, 900 to
slS,40l ,000, 900.
The statement (OO0, 900 omitted
&C fOllOUS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
CORN-HOG PAYMENTS
NOW TOP S7S,5OO,OOO
More Than $2,250,000 Paid
to Producers Last Week.
BIZ Times Special

By Times Special
WASHINGTON, Sept. 19.-More
than $2,25O,00O a day were paid to
producers cooperating in the corn
hog program on their adjustment
contracts last week, the agricultu-
raj adjustment administration an
nounced today.
Payments up to Sept. IA exceeded
$78,5 500, 900, a preliminary report
shows. This amount represents
nearly so per cent of the total first
instalment of approximately $133,-
100000 now being paid to farmers
participating in the corn-hog pro-
gram. Checks have been mailed to
over 800 1000 contract signers in
thirty-nine states. Approximately
1000, 900 contracts have been signed
by farmers.
Corn-hog adjustment payments in
Indiana. up to Sept. Is, and not
previously announced, are as fol-
lows:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
ALIEN CAPITAL
MOVEMENT HIT
AS UNHEALTHY
Peek Says Complete Data
Must Be Prepared to
Stem MigrationS.

BIZ United Press
WASHINGTON. Sept. 1s.-The
government must prepare complete
foreign trade data If unhealthy
movements of capital between the
United States and foreign nations
is to be halted. special trade adj
wiser George N, Peek told President
Roosevelt today.
He blamed ignorance of Americas
international position for her I'M
fortunate experience with foreign
trade and investments. We have
through lack of knowledge of our
international position continued to
accumulate quick liabilities and slow
or frozen assets" he said.
MIR. Peek would not say whether
he had recommended definite ac-
ton to the President to prevent UNI
favorable migrations of capital. His
suggestions were presented in a
survey of United States foreign
trade during the last thirty years
which, he said. he had discussed
with Mr.. Roosevelt.
Intensive Study Made
I'VE are making an intensive
study of the situation and our laws"
he said, declaring that from the
American viewpoint the foreign
trade situation has been cumula-
lively Instantaneous to us because
OF a large net increase in debts
owing to us from abroad.
We are undertaking to develop
balance sheets between this coun-
try and each of the countries with
which we are dealing or purpose to
deal. AS indicated, certain informa-
ton is not now available to the
government" Mr.. Peek wrote.
In years past, we have gone to
great trouble to regulate the flow
of emigration and immigration. The
time has arrived when, as a nation.
we must pay close attention to the
migration of capital and it's rela-
ton to Il foreign trade to avoid
such movements as occurred during
the 1923-29 period"
Alien Investments Up
He pointed out that between 1914
and 1888, foreign investments had
increased in the United States ONLY
from $4,000, 900 1000 to 81, 557. 900 900.
whereas United States investments
abroad increased 500, 7O2, 900 900. On
ly 10000, 900 900, he said, was at
tributable to war debts.
Between 1923-29 he said. the
United States purchased or invested
$4,000 900 in foreign holdings.
Balances Withdrawn
Between 1888, Mr.. Peep added,
foreigners withdrew $2,55O,O 900 900 in
short term funds and purchased
$261, 900 900 net additional United
States stock and bonds. They re-
purchased also "at low prices in our
security markets from American in
vestors in the neighborhood Of
$516, 900 900 net Of foreign bonds"
He asserted that since 1923,
foreigners have repurchased $780,
900 900 in foreign bonds and stocks
held by Americans.
Many were bought at deprecated
prices. Some of this has been done
by nations which have defaulted in.
their obligations and have set up
exchange restrictions in their trade
with this country" Peek said.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
FEDERAL FARM LOAN BONDS
by Blyth s. Co, Inc
Other Livestock
nv United Press

CHICAGO. sept. ls.-Hogs-Recelpts.
1000. ~ ia sds Ias 81 5 fSsn s Mondsy: ao- !
lbs. sIl5G725 TOP, SIs5 lse-z9o ao0SS3
IS s0f 10. light lights. s. Z 9 90 gooo
ftSbfs t40-ikO lbs GOOD and choice. $3.50
choice ss35aT3s: medium weights 200
ESQ e., ,v lSs good asS ans 'n i6s.. sood and
rs. medium and choice. sS2sqs2S
Shoies 81 s s 50. cattle-Rsceipts. 5000
commercial. 1000 ~governmert. caves @uug
commercial. 800 ~oVernmen 9es rogv 20
15c higher grassy and short leo Alhos
predominatinE IN run, strong, instances
crcrsnrS selling above ss.sn. usually isq
So higher. other killing classes nFm Viii
al heifers sharing steer ADVANCE mo-
rriSirr about $500 head. mainly stoekers
wrtrhfv steers. $40 IS. slaughter cattle ano
cs,ics 81 50. soo-fsfOO lbs. good and
choice. s65OTi0. IDOL 500 lbs goo9
and choice. S1tIlo2s l.Soo-lSeo toS. kouu
and choice. IS 10 50; 550-l- 500 loS COM
lbs. good and choice. o-9uft6 % coInsou
End medium. $50 -: COW go ri.
low cutter and cutter COWS. Sl5QHzo -,
bulls. v~earliugS excluded. 5000 neeL. 80
eff2S. cutters. common and medium. s. 80
20. v~ealers. GOOD and choice. $500
8 50. medium. SSm65o. Gull and common,
Sos. stockers and feeders cattle steers
s ssGI,SS , .T6 T %ssiu nna s. Sn9 IS Is Sheep
Receipts. 1900. fat lambs indicatlonS
around steady, improved quality con
s. s0efs eS asking around s6.75 on top
natives sheep about STEADY. supply bet
ter grade feeding lambs limited. lev
orsrines down TO st7s- and bslow:
SiauEhisr sheep and lambs lambs 90 lbs
down. good and choice. s. 2SN SIS. CON-
m-~ ara MEDIUM 40 ewes. o0-ls0
lhS.. good and choice. Sl+foI 80 a.
weights. common and medium, 81 50 10,
feeding lambs. sos lbs. good ana choice
n WAYNE sept. is-HoE-Stesdy;
sso-5oo Is 81 90 Sso7Sso rs ss l hso-
S7lS- lS0-ieO rs. IS So l4o-iSo lbs. SIS IS.
iS0-i40 lbs. s.. 12o-iso It's. $ 3, 100
l2o rs SO reusas $50 stays. SIS
s,tsey 70 s. lower 975-soo Is sa
s56SfSio- 1so-iso lbs. IS ssEess 40
leo TO-. ssaSGss0- l1s-i40 lbs. S5.75R6.
iis-i55 lbs. $3.50 $50, HOLLIS lbs. <4LS
ns rouEhs. SS25 down; top calves. 81
BY Tines Special
LOUISVILLE Spt S-CattleIHe-
msTSst SLOW ana generally steady BULK
common % meciuD grass steers sno METERS
SrSsss suotabie Gown 10 $50 or less BET
Ter finished steers and heiferS salacle s.
m6 o. Better. bulk beef COWS $500 -
practical TOP. s72S. sausage bulls mostly
s21sE3 most desirable hereford stock
calves s450aSs few Better kinds eligible
higher common 20 medium natives mostly
s70n3S- Csives-Receipts 700 ineluo-
irE 50 stock calves ~yeslers STEADY bulk
better grades Ssf6-So- medium = lover
graces $50 down. HcES-Receipts. 500.
market mostly STEADY soEs uneyenly
higher top and bulk. isS-175 lbs. $40.
go los. up. ss7s iso-is0 ms. $50 f40-
lss lbs. 81. f2o-i3S lbs. ss.s0. soVS. IS.
Shcep-Feceipfs. 500. including Us stock
eve lambs IN light supply demand fairly
broad, market fully stesvc. bulk better
lambs. HTsHs choice. Ss1S bucks most
ly st.75Gs. light throwouts s. 50. bulk de-
stock eues salahie s6G70 q head.
choice uunfahfe "a "a ard ahova
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
OPEN NEW EXCHANGE
New York Tobacco Market to Start
Business Tomorrow.
Tfmfs Snfcinl

By Times Special
CHICAGO, Sept. 1S.-Formal op-
ening Of the New York Tobacco Ex-
change, Inc, will be held tomorrow,
according to an announcement made
today.
The exchange will trade in tobac-
co futures on contract basis TO be
United States standard 1ue cured
type II, grade B4F. Nine various
types and numerous grades viii be
delivered under the specified form
Of contract that has been adopted,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
FRUITS AND VEGETABLES

CHICAGO, Sept. B-Appies-Michigan
Mcintosh bushel. 2i7-iEeh. si.i5GI35.
Tomatoes-Michigan. i2-qt. baskets, 25d
soc: Ohio. s-qt.. asa 40c. Sweet potatoes
Tennessee bushel, s1.15dl.25: Virginia,
sl.i5H1.25. PeacheS-Michigsn buShel,
81. 90H2 50. Lettuce-California crates. So
d375. Beans-Illincis green bushel. 50d
soc. Cabbage-Wisconsin crates. 50n75c.
Carrots-Califoruia crates. S2.50G2.75;
bushel. 75ds5c. Eggplant-Iilinois bushel,
25G35c. Celery-Michigan crates. squares,
4oG50 soc: flats. 75l40c.- western .cauli-
gan Concord, 4 Qts.. lldt3c. Crsnberries
Massachusetts boxes, l-3 bushel. $3.50.
Onion market t50-lb. sacksl-Michigsn.
yeiiows. 70d60c; Idaho white, e0cIsi.f5.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
SURVEY OF sos FIRMS
SHOWS GAINS IN 1893
Net Profit of Group Amounts to ST.
$4,000, 900 for Year.
By Times Special

By JfmeS Spect0t
CHICAGO, Sept. 18.-Net profit
of sos industrial, railroad and utility
corporations, during 1888, tabulated
in a composite income account by
the Standard Statistic Company,
amounted to S2,124,0 900 900 compared
with S1,461, 600, 900 in 1882.
Total reduction Of dividends for
the sos corporations during the year
was approximately 20 per cent lower
than in 1882. A consolidated loss
totaling 1891 900 900 was reported
after dividends and reconciliation Of
surplus debts and credits.
Cash and equivalent of the corpor-
ations was reduced as per cent in
1888, from $4,512, OOO, 900 to s4,3O4,-
100000. The majority Of this was
attributed to finance inventory c
count, which increased from S ,669,-
100000 in 1882 to s5,124,O O0, 900, or
81 per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
EFFECTS OF DROUGHT
MIXED IN STUDY
Towns and Cities Not Tightening
Down Under Fear.

Down Under Fear.
By United Press
NEW YORK, Sept. 18.-With rains
bringing back the fall forage and
p~asturage, the land between the
Canadian border and the Texas
Panhandle is not the drought
stricken desert pictured by the aver
age citizen, a report by the Ameri-
can Institute of Food Distribution
Inc, said today.
Towns and cities from which
American farmers draw supplies, the
review said. are not tightening down
under fear that most of the people
must go through the winter living
on food issued by the government.
With the exception of a few COM
munities where the surrounding
country was burned out" the report
said, "the wholesalers and retailers
of foods in the drought country are
having a big b~usiness-So prosperous
that the head of one big company
wondered if he were not living in a
fools paradise"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
Stock Values Drop

By Itmes Specf1t
NEW YORK, Sept. 18.-The mar
ket value of fifty representative
stocks listed on the New York Stock
Exchange at the close of business
last week was $40, 9S3, PIT 900, a de-
crease of s481, l64, 3O1, or 1907, as
compared with the preceding week,
Paul H. Davis a. Co., members Of the
Steek Exchange disclosed today
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
s1,o15,OS2.45
LUMBER QUOTA PARED
Cut From S,S45, GOO. 900 to S,07S,5O0,-
900 Feet Ordered.

By United Press
WASHINGTON. Sept. 18.-The
national lumber code authority to-
day fixed total production for the
fourth quarter at 3,073, 100000 feet.
compared to 3,S45, O00. 900 feet for
the third quarter.
The softwood quota was placed at
2,5e6, 200. 900 feet and hardwood at
477,3o0,oco feet
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
Produce Markets

Delivered in indianapolis prices. HEAVY
Z ae lbs. i snd o oSsr. &c. nf Iegh SS: iS 5%Toil STSiif r.
to 2 lbs. and over lie; old ROSTERS. Sc;
ducks, 4c; geese, SC; young guineas, zoe;
old g%uineas. l5c; No strictly fresh coun-
nus weight IS lbs. gross; a deduction of
10 cents a pound for each pound under
S. lbs. will be made. Butter-No. !, 2s@
29c: Butterfat. 2lc. Quoted by the "adiey
CBy United Press
CHICAGO. Sept. 18.-Eggs-Market easy;
egsefpfS a Tifs' 5 5iSsc cure current H'1 receipts 1pts 1sS
No. /. i7c: No. 2 lac. Butter.Market
s Say s FeSeip's25 s Ia! a4c su0 extra sH'I 80 nis Score re-. :.
seconds i8ses7is score. 22a 2alzc; specials.
Market. Arm; receipts' q trucks. i car
due: fryers. white Rock. 15c1s b%roilers.
1sg17c; geese, 9@llc: tgrkeys l39l5c;
ers. 14lz@I7lzc; heavy hens. Tic; light
hens, lac. Cheese-Twins. 12h 0l2jzc; dais-
les. 24Gl3c; Longhorns. 1294nl3c. Po-
trading SLOW; market, dull: wisconsin Cob
T P5s5ni is si.27ss: SS59Ps Trlumphs,
s i,SG: fash2 g. sp2ssts' M sirSoadts' co Saissa
Triumphs. $50 Arrivals, 50; on track.
z'S new Vaip YoRK. Sep Sept. 1s-potatoes-Mar-
ket. steady; Long Island. 5ocGsI10 bag;
New Jersey. siGf05 bag: southern, 75c a
100 lbs. Sweet potatoes-Easieri Jersey.
basket. 65c n 81 so; southern, barrels, sl25
"a; southern. basket. 50cd $50. Dressed
poultry-Steady TO firm; turkeys, 19d 32c;
chickens, 15G25c; o~roilers. i6d23c;
capons. 26G32c: fowls. lon21c; Long Is
land ducks. 14n17Izc. Live poultry-Dull.
geese. sG ioc: turkeys. i5a20c. ROSTERS.
f2c: ducks. 126Iec; fowls. l2H2lc; chick
ems. 20G25c; capons, GOA use; broileys. 10
M22c. Cheese-Dul; state whole milk,
fancy to special, is120c; Young Americas.
131a1l4c. Butter-Receipts. 1904 pack
ages; market. steady to firm: creamery
score, 2534c: hrsts (90-ei scorsi. asa
25l7c: first 1898 score. 24d 24i7c; sec
onds. 23H23izc. Eggs-Receipts. 25,139
cases. market irregular; special packs. in
Guiding unusual hennery selections. 25izH
30c; standards, 24n 25c; hrsts. 22d224c:
seconds. 2id2li7c; mediums. 20Iz q 2024c;
dirties. 20izc; checks. 17Ilsc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
Clearing Agreements, State
MonOpOIieS, BiIateraI
PactS Check Trade.
BY w. IAN MACK
Times Special Writer

New impediments today becloud
the world trade horizon. Until re-
Gently the movement of goods in
international commerce was re-
stricted by such barriers as de-
preciated currencies, foreign X
change embargoes, import quotas
and an increasingly widespread
tendency towards economic nation
aliSm.
Now these deterrents are being
abetted by others. equally as potent,
in the form of clearing agreements,
bilateral trade accordS and state
import monopolies.
That Washington is cogniZant Of
these deterrents is evidenced by the
fact that negotiations are now un-
der way to obtain multilateral
agreements, principally with Latin
American nations,
Used by Debtors
Although tending to curtail the
volume of exports and imports
entering into world trade, the origi-
nal restrictive measures had little
adverse effect upon the triangu-
lar flow of commerce. They were
put into effect principally by debtor
nations as a means of protecting
their gold reserves, depleted to eX-
iguouS proportions by the exigency
Of meeting service charges on their
obligations to the creditor powers.
The scramble for gold incident to
the s%ervicing of these external debts,
incidentally, was responsible for the
collapse Of commodity prices.
Funds Help Up
Clearing systems are the out
growth of rigid foreign exchange
restrictions. The latter prevented
exporters from readily obtaining the
proceeds of their sales to foreign
countries. and created considerable
friction among the various nations.
This dissatisfaction was particularly
noticeable in the caSe of countries
which have an unfavorable trade
balance with nations where such re-
strictions are in force. To remedy
this situation the clearing agree
ments were reached so as TO facili-
tate the settlement of merchandise
balances.
Such arrangements have become
quite numerous Of late. Germany
has been concluding agreements
with most countries which have an
unfavorable balance OF trade with
the Reict.. Systems likewise have
been arranged between Austria and
a number Of nations.
Used for Interest
The German deals have been
principally with England. Switzer-
land and Holland. Under the
British German agreement the IL
plus of German exports into the
United Kindom is utilized only for
the payment Of interest on the
Dawes and Young loans, with the
remainder payable 10 Germany at
specified intervals.
Most Of the clearing systems have
worked out satisfactorily for the
countries involved, especially those
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
MORE RUBBER IS USED
August Consumption of Crude Ma
terial Increases.
~ Times Special

CHICAGO, Sept. 18.-Consump-
ton of crude rubber by manufac-
turers in the United States during
August amounted to 1880 long
tons, against 32,647 in July and A.
428 in August, 1888, according to the
Rubber Manufacturers Association.
Domestic stocks Of crude rubber
on hand Aug. 81, totaled 362,647 long
tons. This was a slight decrease
from July 81, and a 10.7 per cent
increase over the same period Of
1898, the report stated
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18

to mistaken con-
illusions as to
those which had
not yet applied"
The exchange is
to be commended
for its frankness
in stating its rea-
son for the step,
but it is doubtful
that is reasoning
in that connec-
ton was sound.
The public is in
terested in this
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-18
Wall Street
Exchange to Withhold
Names of Companies
Seeking Listing.
by RALPH HENDERSHO1>
Times Snecial Financial Writer

THE New York Stock Exchange
has stopped making public the
names of corporations which have
made application for temporary
registration under the rules of the
securities and exchange commits
sion. 1t explained that the reason
for doing so was that it feared pub
LEGATION of further names might lead