davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14

Shorn of all technicalitieS
the contest, in its simplest
form, amounts to whether the
Louisville & Nashville will be
allowed to route its Chicago to Flor
ida passenger traffic over the line:
of the Big Four instead Of over the
Chicago & Eastern Illinois, as it has
been doing for years.
Since the sqUabble came to a
head. there has been the customary
activity on the part of counsel for
The roads concerned. Reams Of copy
we're written throughout the coun-
cry about the significance of the
issues involved and the question was
posed: Is Mr.. EaStman's power over
the nations railroad system to be
given an airing by the courts?
Nationally, the contest is alive
with interest. There is, however,
some measure Of local interest which
has been lost sight of because the
weightier national issues have been
in the limelight.
Both Serve Run
In the first place the dispute CEN
tiers around approximately 300 miles
of track from Chicago to Evansville
"a run which is served by both the
G. g. E. 1. and the Big Four. Over
this route about 100000 persons are
served. a large proportion OF whom
are citizens of this state.
A comparison of the two roads
position in regard to this mileage
shows the G. & E. I. considerably
ahead of the Big Four on several
points. The former serves a larger
proportion of the population, has
more miles of double track and has
an additional edge in speed OF
trains. The Big Four. New York
Central subsidiary, is reputed to be
better equipped.
Consequently, it is not amiss to
conjecture whether the people OF
this state who are alO" ne d =
puted route would be able to have
a voice in the argument. The inter-
state commerce commission always
mas listened attentively to plants
of individuals. Although the issues
involved are national, it may de-
velop that the difficulties will be
ironed out by the voice of the 200,-
600 persons along the route.
Involves Some Expense
Co-ordinator Eastman declared on
one occasion that the Big -Four
would have to go to considerable
expense to bring it's spur on equal
footing with the G. & E. 1. And,
it must be remembered, Mr.. East
man has been virtually dedicated TO
the principle of eliminating ex-
penses and duplication Of services.
The c. & E. l., the first road TO
present reorganization plan under
the railroad bankruptcy act, is, in
cidentally, heavily in debt to the
Reconstruction Finance Corpora
ton. It's bonded Indebtedness is also
weighty. Should the road lose its
business with the Louisville & Nash
vile, investments of both the RFC
and bondholders are placed in jeop-
ardy.
The New York Central and the
Louisville & Nashville are equally an
noyed that Mr.. Eastman should have
overruled the regional co-ordinatorS
decision that the L. & N. could re-
route its trains over the Big Four.
The ensuing court battle, with its
many issues at stake, should prove
interesting to both the country and
the persons along the disputed route.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
FARM LOAN TOTAL UP
SHARPLY FOR MONTH
Increase of 80 Per Cent Shown In
First Half of October.
By 7jmes Special

~ ! tmfs NUccfGt
CHICAGO, Nov. 14.-An inci ease
Of 30 per cent was reported in the
volume Of loans from production
credit associations during the first
half of October, according to a sur
vey by the farm credit administra-
ton.
The increase was attributed most
ly to heavy financing demand by
farmers to be used for fattening
feeder cattle. The sharp advance in
loans was made in comparison with
preceding weeks.
More than 1890 loans totaling
s4,624,000 were made during the last
two weeks in October, compared
with s3,4S9, 900 during the preceding
flfteen-day period, the survey re-
ported.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
SEC TO OPEN OFFICES
IN SEVEN KEY CITIES
Close Supervision VIII BE Kept Over
Securities Trading.

nN HiIfa fffeN
WASHINGTON. Nov. 1.-THE Sc
curities and exchange commission
today completed plans 70 insure
stringent federal regulation Of the
nations forty-one stock exchanges
through seven regional Offices
throughout the country.
Field branches will be established
in New York. Boston. Chicago. Den
yer. san Francisco. Fl. Worth and
Atlanta. Through these offices close
supervision over the exchanges and
securities dealings in those terri
tories viii be exercised by the con-
troll board az Washington.
The first office viii be established
before Jan. I in New York City,
where a large corps Of attorneys,
accountants and investigators will
be maintained.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Other livestock
CBy Times Special

LOUISVILLE. Nov. i4.-Csttle-Receip
1000. including 700 show cattle; demand
somewhat weaker for slaughter classes;
market very slow; fully asa soc lower
than high Monday time; stockers SLOW.
steady 10 weak; bulk common 20 me-
dunn steers and heifers. s5.251450; few
common. IS; better finished scarce quotable
IS 10 around SIS: bulk beef COWS. s225G
275 practical top. So low cutters and
cutters. SiG2. bulk sausage bulls. 81 p q
as: beef type etock calves mostly $3.50
as. common TO medium grade Stcckers
end feeders s275G37s. ctlves-Ea-
ceipts 275 including IS stock calves.
market. steady: bulk better yealers. s6d
$50 medium and lower grades. SIS down.
Hogs-Reeeipts; 500: Yarket. Sc higher:
TOP and bulk 100000 lbs. $500 l60-l95
ms IS so: 30s lbs up. s. IS: iso-I7s lbs.
81 80: i4o-i5S lbs. 81 20: Io0-isS lbs. $40
SoWs. s4.SS. Sheep-Receipts. $50. generally
steady: market on slaughter classes; bulk
meium 70 goo lambs, sS.50G6: choice
quotable higher: Bucks disoounte: bulk
light throvoutS. 50 50; better fat ewes,
81 p; mos stock ewes salable, $3.50 8
hea down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Stock Studies

The South Porto Rico Sugar
Company is a holding company,
which, with its subsidiaries, con-
stitutes one of the leading COM
panies in the sugar industry. Sub
salaries are active in all branches
of the industry They operate
large sugar cane plantations in Por-
to Rico fully equipped with all
modern facilities.
Other subsidiaries manufacture
raw and refined sugar, molasses and
other sugar cane products. Com
pany is one of the lowest cost pro-
ducers in the industry.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
(By Abbott. Proctor & Paine
LOCAL INSURANCE UNIT
REPORTS SALES Squirt
Pacific Mutual Life Volume in First
Ten Months up 1855 Per Cent.

Sales of the local Office of the
Pacific Mutual Life Insurance Com
pany of Los Angeles in the first ten
months of the year increased 1855
per cent over the corresponding
months of last year, the third best
gain of the more than one hundred
agencies of the company.
Earl T. Benham, Indianapolis
general agent. declares that large
part of this increase is due to the
fact that Pacific Mutual continues to
write disability insurance.
Increased volume was shown in all
four departments of the agency
life, accident, noncancellable and
annuities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Wall Street
BY RALPH HENDERSHOT-
Times Special Writer

NEW YORK, Nov. 14-Con-
~ troller of Currency j. F. T.
O'Connor believes that greater care
should be used in the future in
granting charters to new banks. He
will find few people who will argue
against him on that point. One of
the chief causes of weakness in the
American banking system in the
past was the granting of bank char
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Produce Markets

hens. lie. LeEhorn hens. &c. colored
sprineers. re. old ROSTERS, SC. ducks &C.
Eeess Sc; Young guineaS. 20c. OLD gulneaS.
Use TurkevS-No- I Young hens. lbs.
and over i6c- Young toms. u lbs. and
over. lie. Young toms. li-i+ lbs, l5c. No
- CONS all ueirhfS I3c. No. / strictly
fresh country run eggs. loss OF. 26c-
zach fun case must welsh s. lbs. gross
= erSucation 81 Ice pound Tor each
r0u-d under IS lbs Wiii be MADE. Butter
No Il an Sic Bu.tcrfat-26c- Quoted BY
lie WaGlev COMPANY.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
PACIFIC COAST PLANS
TO LIFT ORIENT TRADE
Commercial Interests Unite to Strike
Better Balance.

Commercial interests in Pacific
coast cities are projecting an am
bilious program designed TO stimu-
late trade with the Orient, accord
ing to the weekly review of the
Bank Of America.
Advices from their representatives
in China and Japan have excited
the interests Of Pacific coast manu-
facturers and shippers in the mod
ernization trend which is gathering
increasing momentum in those
countries.
ViSualizing an expanding market
across the Pacific for western lum-
Der and other building materials,
petroleum, grains and many fabri-
Gated products, the comercial bodies
of Seattle, Portland, San Francisco
and Los Angeles are consolidating
in a unified attempt to strike a bet
ter balance of trade between Pacific
coast ports and the Orient, it is re-
ported
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
BUILDING PERMITS GAIN
October Volume 400 Per Cent Ahead
of Preceding Month.
By Times Special

NEW YORK, Nov. 14-Building
permits issued in 215 cities through
out the country in October had a
value of So, 446, 293, an increase Of
400 per cent over the preceding
month and 429 per cent ahead Of
the corresponding month last year,
according to Dun & Bradstreet, Inc
Except for last May, the October
aggregate was the heaviest since
April, 1882. The normal seasonal
gain in the month is about 2.5 per
cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
ALLOW COUPON CASTING
PoStmaSterS May Honor Stubs Of
Federal Farm Mortgage Bonds.

WASHINGTON. Nov. 14.-w. 1
Myers. governor Of the Farm Credit
Administration. has authorized post
masters 70 cash interest coupons
clipped from Federal Farm Mort
gage Corporation bonds. 1t was dis
closed today.
approximately SO 500. 900 in inter-
est VIII be due tomorrow on the
s7i0 900 900 Of 3 per cent bonds
issue Of le44-l949. outstanding on
that date.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
8 CHICAGO BANKS PAY
Disbursements to Depositors Shown
in Third Quarter.

BIZ Ifmes Special
CHICAGO, Nov. 14-Eight Of the
twenty closed Chicago banks, for
which reports of the Sept. 80 quar-
ter have been made public, made
distributions TO depositors, it was
disclosed today.
Three were making their first re-
turns since closing. -Four in this
group still have repaid nothing. Two
show attorneys unpaid. 4
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Wholesale Prices Rise
By Times Special

BIZ Tunes NDccldE
WASHINGTON, Nov. 14-For the
second consecutive time in several
weeks wholesale commodity prices
advanced from 74.6 to 74.9 during
the last week, according to the in
deX of the National Fertilizer As
ISOLATION.
The latest index, 749, compares
with ISL month ago and 694 a
year ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
UNSETTLED TREND
PREVAILS IN WHEAT
Some Traders Take Profits
on Corn Deals.
BIZ Tnited Press

By United Press
CHICAGO, Nov. 14.-Wheat flu
lures were without particular in
centive on the Board of Trade today
and started unsettled.
Wheat was % cent lower to 4
cent higher, corn was off a to z
cent. oats were unchanged to Il
cent lower, and rye was unchanged
Liverpool was steady to shade
easier, but this proved no guide to
activity on the local market. Some
traders came into the corn pit to
take advantage of yesterdays bulge,
selling for profit.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
CITY ICE BONDS CALLED

By Times Special
CLEVELAND, Nov. 1.-The City
Ice and Fuel Company has called for
redemption on Dec. l, at 102, the
balance Of $4,000 bonds Of City
Ice Delivery Company per cent
bonds, outstanding, after paying of
$4,000 Of the bonds which mature
on that day. The called bonds are
due Dec. /, 1885 and 1896.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
STEEL EXPORTS AT PEAK
Heavy Purchases by Japan in First
Nine Months Responsible.
. United Press

WASHINGTON, Nov. 14.-Heavy
purchases of iron and steel scrap
by Japan raised American exports
of these products to the highest lev
els in history IN the first nine
months of this year, the department
of commerce reported today.
OF total scrap exports of 1,275,414
gross tone in this period. Japan took
1884 tons; Italy took 158.245
tons; Poland. e9.626 tons: United
Kingdom, 67143 tons: Canada, 40
S2S tons; China, 1889 tons, and
Belgium, 1870 tons.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
GASOLINE AVERAGE UP

The weighted average f. o. b. re-
f1nery price of domestic motor gas
oline on Nov. 3 was 5.818 cents a
gallon, an increase Of % per cent
over the preceding week and SO
per cent over year ago, the j. Ed
ward Jones Research Department
announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
COAL RATE SUSTAINED

By Times Special !
WASHINGTON, Nov. IA. - The
supreme court has sustained the
freight rate of sl76 on bituminous
coal from the Cambridge, Ohio
mine district TO Mansfield, Ohio
fixed by the Interstate Commerce
Commission.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Oil Production I'D

Daily average crude oil production
last week rose ll5.026 barrels 20
> .409.747 barrels. according 70 the
oil and Gas Journal. Large in
creases in output were reported by
Oklahoma. Texas and California.
The rise in Oklahoma alone was
Sc 500 barrels daily.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Railroad RerOuting
IndanaS Position in Big FourC. & E. l. Controversy
Believed to Be important One
by VINCENT s. LYONS
Times Financial Editor

The current controversy involving the Louisville &
Nashville Railroad the Cleveland Cincinnati Chicago ST.
Louis (Big Four Railway and the Chicago Eastern Illinois
Railroad trackage rights to the south visoned by
many students of the railroad situation offering the first
test of Federal Co-ordnator Eastman's powers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
FEDERAL STEP
SEEN INSURINC
SOUND POLICIES
DeVaIuation of Dollar Held
0bviated by Removal
of Capital Ban.
BuTnitcf Prcss

By United Press
WASHINGTON. Nov. 1.-THE
Roosevelt administration has turned
its back on further devaluation of
the dollar in favor Of continued con-
sentative monetary policy That
was the general Interpretation
placed today on the treasury order
removing restrictions against the
movement of American capital or
currency to foreign countries.
The move was believed to indicate
the administration had little fear Of
possible imitation moves by this VIM
ter'S congress.
Because of returning world con-
fidehce in the dollar and American
fiscal affairs, treasury officials said
there was no longer need for bar
riers against the flight of capital"
The bars were erected nearly two
years ago, when formulation of the
Roosevelt monetary policy was be-
gun.
May Ship 1t Abroad
Americans now can, without gov
eminent approval, send their cur
rcnCy or credit abroad and deal in
foreign exchange. Just as they could
prior to the financial crisis of
March, 1888
This order" undersecretary of
treasury Thomas Jefferson Coolidge
explained, will permit people to
take their money out of the coun-
try whenever they want to-"
1t was explained in one quartz
that the administration would not
risk lifting the foreign exchange
restrictions were there any immed-
late possibility of monetary imitation
or devaluation which, undoubtedly,
would send American money flowing
abroad to seek safety in foreign
countries.
Hoped Entering Wedge
1t was hoped in some quarters
that the lifting of the exchange re-
strictionS by the United States was
an entering wedge in an eventual
WI ~ NANC OEJDAlAil6 VI CAOAiuASC
restrictions. InduStrialiStS have
claimed that inability to receive
payments from many countries with
foreign exchange restrictions has
tended to curtail world trade.
Although giving assurance of a
continued conservatory monetary
policy administration officials were
mapping today more liberal internal
fiscal and banking policies.
Selection of the liberal Utah
banker, Mariner S. Eccles, as Gov
ernor of the Federal Reserve Board
was believed the forerunner of the
appointment of additional New
Dealers" to important government
financial posts
Two high treasury positions as as
sistant to Henry Morgenthau Jr.
are open as are two directorships oil
the Reconstruction Finance Corpor-
alton, one federal trade commits
sioner and one director of the Fed
eral Deposit Insurance Corporation.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14

guards to depoSitors. 1t requires
capable management, the same as
any other business, and there must
be a need and demand for the SER
vices offered. In a general business,
of course, the funds used are those
of stockholders and creditors,
whereas in the case of a bank most
of the money used belongs to de-
positors. And the chief interest Of
depositors is the safety of their
funds.
The banking business is a pro-
fession all its own, and it would be
advisable for the government to rec
ognize it as such. 1t might very
we'll require bank executives to prove
their ability to hold their jobs. A
doctor or a lawyer is obliged to take
examinations to prove his capabili-
ties. The responsibilities of a bank
er are equally great. But even
though the government or the states
do not see fit to go as far as hold
ing examinations, they can prevent
a stable portion of bank failures
in the future by using care in the
issuance of charters.
TINTED STATES government
~ agencies are planning to call
on cotton farmers greatly to reduce
their acreage again next year, ac-
cording to Washington advices. They
are reputed to have taken the posi-
ton that the sharp slump in chip
ments to other countries, partic-
ularly Germany, has made it essen
tial that our output be reduced.
There may be sound arguments in
favor of crop reductions, but our
inability to sell more Of our prod
ucts abroad would not appear to
belong among them. If we do not
compete in the world markets with
our cotton surplus, it is reasonable
to suppose that We are willing to
give up those markets. This we can
scarcely afford to do, even tempo
rarily, for by doing so we invite
other nations to increase their pro-
duction, and permanent loss to us Of
such markets might be expected to
result.
THIS year we cut our cotton
l. acreage to a very large extent,
and weather conditions reduced the
yield still further That the same
thing might happen again next year
is not impossible. And, in addition
TO the loss of our markets in such an
event, the payments made to farm
ers for crop eurtailments eonsti-
tute no small drain on the govern
ment's resources.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
LOCAL CASH MARKET

City grain elevators are paying 30 cents
for No. soft red wheat. other grades
on their merits. Cash corn No yellow
II cents. and oats 43 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Treasury Statement
tBv United Press

WASHINGTON Nov If-Government
rxneures and receipts for the current year
10 Nov r. compared with the correspond
ing period Cf The previous iscal year
This Year Last Year
EXnenEes 2 567 $50 357 u 81 635 013 i08 %
Rereints 7f0 495 303 ~ 06l e47 132 %
Defrtt 20- s54 053 qf 513. l25. 875 96
cash bal ! 63s s92. 2s6 AZ --..--. ---...
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
SHEEP AND LAMBS

SHEEP AND LAMBS
Receipts. 1900
lambs. go lbs down good ana
Lambs. 90 lbs down. good and
Common and medium ........ 4.0oG SIS
9o-l2o lbs. good and choice. 225G 800
G3o-l5o) Good and choice =. 2oo9 $50
medium .'..............."... 15oG as
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14
Retail Coal Prices
DOMESTIC RETAIL PRICES

The following prices represent quotations
from LEADING Indianapolis coal dealers.
25-csnt carrying charge per ton viii be
ADDED -. $500 ,,,rr-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14

d ev elopm ents in
Trade and Industry
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-14

Quotations below are average wholesale
prices being offered 10 buyers by local
commission dealers
The Washington times., 1934-11-01
PRESIDENT AIDS
RED CROSS

President Roosevelt today be-
came a member OF the Red Cross
as the annual. roll cali of that
organization of mercy got under
way throughout the nation.
The President received his en-
blem of membership from the
hands of little 5-year-old Phyllis
Smith, daughter of Mrs. Dewitt
Smith, of Bethesda. Md.
The President issued the fol-
lowing statement in connection
with the drive:
"Our people continue to look
to the American Red Cross as
the kindly and always helpful
good neighbOr to whom they
turn for practical aid in emer-
gency. They do so with the
assurance that this national re-
lief agency, with an OrganiZa-
ton in $4,000 American COM
munities, has not and will not
fail them.
"In the difficult IL months
which have elapsed since last
November Red Cross volunteers
throughout the land have
worked in close cooperation
with the Federal, State and
local governments in their hu-
manitarian labOrS. Their SER
vice has not been limited to aid
in furnishing the actual neceS-
sites of life, but has extended
to the equally important field
of safeguarding public health
and of training their neighbOrS
in the proper methods of caring
for the sick or the injured.
cat the same time the organ
izatiOn has continued to fulfill
its obligation as our agency Of
relief for every community Wis
tied by disaster.
"The Red Cross is looked
upon aS'the representative of all
of our people in times of dis
tress. In order that it may con-
tinue its service to humanity,
it is highly important that we
lend our support through in
dividual membership.
II hope every one who possibly
can do so will respond gen.
erOusIy to the Red Cross ap-
peal"
The Washington times., 1934-11-01
VIRGINIA HAL TS
CHEAPER D. {.
GAS At LINE
State Determined to Bar Flood
Of Product Caused BY
Price War Here

Determined that Washington'S
loW-priced gasoline be kept out OF
Virginia, a small army OF State
inspectors today took up q
vigil at Highway and Memorial
bridges.
Every truck or heavily laden
automobile crossing into Virginia
is being halted and examined for
illegal drums of low-priced gas.
Under Virginia law only such
gasoline may be transported free
of State tax as is contained in
a vehicles original" gas tank
Any other containers must have
pipe lines connected directly to
the main supply or be subject to
confiscation.
BOOtlegging Incentive
The action by Virginia authori-
ties to halt bootlegging of Dis
trict gas is an outgrowth of a
fight of several years by Vir-
ginia and Maryland Congress
men to force the District to raise
its gasoline tax to a par with
the higher State taxes.
Reduction of gasoline in Wash.
ington to 10A and 11h cents a
gallon as a result of the price
war is believed to be an incentive
to "bootleggers" to carry large
quantities of gas across the line.
Retailers Organize
Forced by continuation of the
gasoline price war to take drastic
steps, a group of 35 independent
gasoline dealers in the District
last night formed a new gasoline
retailers organization.
The group will be known as the
Associated Service Stations of
Branded Petroleum Products and
boasts two plank platform.
One objective is to restore the
original 31a cent differential be-
tween popular gasolines sold by
major companies and unbranded
gas sold by independent dealers.
Another purpose is to improve the
ethics of independent dealers.
The first meeting of the new
association will be held in the
Hamilton Hotel, November 13.