davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
SWINE VALUES
DROP 10 CENTS
Cattle, VeaIerS Unchanged;
Lamb Prices Steady
at S6.75 Down.

Hog trading declined at the In
dianapolis stockyards this morning,
with the majority of all classes
moving around 10 cents lower than
yesterdays average.
Receipts were estimated at 1000,
an increase over the two preceding
sessions. Bulk of 100 to 200 pounds
wash selling at $5.O5 to $3.50, while
heavier weights from 200 to 325
pounds, brought $40 to $3.50. Top
was $50.
Less weghty grades, scaling 100
to 100 pounds, were salable at $3.50
to S465. Small kinds weighing 100
to 100 pounds cashed in at s2.65 to
S365. Packing Sows sold at S4.25
to S.. Holdovers numbered 322.
Quality was low in the cattle mar
ket. with a slow cleanup trade pre-
vailing on all classes. Nothing on
hand during the early trading to
command top prices. Most grades
were unchanged. Receipts num-
bered 400. Vealers continued sta
tionary. selling at So down. Re-
ceipts were 500.
Lamb prices remained steady at
the previous close. Bulk of all
classes sold at S675 down. Few
choice kinds sold at 81. Bucks were
81 less. while thrOwOutS ranged from
$3.50 to SIS. Receipts were 1000.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
new FREIGHT CARS
ON ORDER INCREASE
Oct. | Aggregate Put at
5,495 in Study.

BIZ Times Special
WASHINGTON, Oct. 26-Rail-
roads of the country on Oct. l had
5495 new freight cars on order,
against 275 on the same date last
year, according to reports just re-
ceived by the Association of Amer
lean Railroads.
On the same date the carriers also
had thirty-seven steam locomotives
on order and 104 electric locomo-
tives. On the same date last year
there was only one. No figures are
available to show the number of
new electric locomotives on order in
previous years.
In the first nine months of 1884,
the railroads installed 19,107 new
freight cars. In the same period
last year, 1872 new cars were placed
in service.
Fourteen new steam locomotives
and twelve new electric locomotives
were placed in service in the first
nine months this year. The rail-
roads in the first nine months of
1888 installed one new steam loco
motive and thirty-siX in the cor
responding period in 1882.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
DISAPPOINTS
BANKERS OF INDIANA
Roosevelt Address Dealt in
GeneraIities, They Say.
BIZ Tnifed Press

BIZ United Press
WASHINGTON, Oct. 26.-Hoosier
bankers attending the American
Bankers Association convention
here were frankly disappointed" in
President Roosevelt's speech, accord
ing to NJ. j. Kreisle. president Of the
Indiana Bankers Association.
In my opinion and that Of rs to
so per cent of the bankers, the
President muffed a wonderful OPP
portunity," Mr.. Kreisle stated. He
had a chance to cultivate good will
and restore confidence, but he de-
clined to accept it. His speech dealt
in generaities and failed to answer
any of the questions which have
been uppermost in our minds" Mr..
Kreisle revealed.
In addition the President failed
to give the bankers any credit for
the cooperation they have extended
in swelling their investment port
folios with government bonds" the
Hoosier banker reported.
President Roosevelt has not
backed down from his views ex-
pressed on Sept. 80 when he charged
that the bankers have failed to
come through in the depression
crisis. and. because of his failure TO
give definite answers to our ques-
tons and TO continue to criticize US,
we were frankly disappointed in his
speech, Mr.. Kreisle concluded.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
SELLING WAVE
SENDS STOCKS
LOWER ON DAY
Activity Increases on De-
cline With Dips Up
to 2 Points.


NEW YORK, Oct. 26-Another
wave of heavy selling swept over the
stock market shortly before noon
today after the list had steadied fol-
lowing a lower opening.
Trading picked up on the decline.
Losses were extended to more than
? points. Many issues made new
lows for the year or longer. Beth
lehem Steel dropped pa to a new
low at 24i3 and the preferred regis
tered a wide gain on the poor earn
ings report. United States Steel
was off more than a point. Other
steel shares weakened with Repub-
lie preferred at a new low of 34i5,
off 81 points. United States Steel
preferred broke a point.
Railroad shares resumed their de-
cline Utilities slipped back with
Consolidated Gas at new low on
the movement and only a fraction
away from its 1884 low.
Mercantile shares joined the de-
cline and so did the tobaccos and
oils.
United States Smelling dipped to
1l2l2, off IL. in the silvers. Home
stake was off 10 in the colds. Du
Pont lost 212 in its section.
There was nothing in the news to
account for the renewed selling.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
FIN ANCIAD DA IA
(As of June 80, 1884

During the six months period
ended June 80, cash and securities
increased $1,8OO,OOO. Inventories,
however, were about 100000 less
while net working capital dropped
$270,000. Surplus was also 100000
less. On June 30, the current ratio
was nearly 10 to 1, while the book
value of the common stock was
$2O.69 or 1924 less than at the end
of 1888.
Through 1882, Consolidated Cigar
stayed in the black. Operations in
1888, however, resulted III a deficit
of 81 cents on the common stock
whereas, a deficit of % cents shown
in the first six months of this year.
The company has been liberal
with dividends, paying as high as
ST in 1929, and Sc in 1880. In 1882,
81 was paid but none since. The
company drew on surplus for divi-
dend payment slightly in 1880, and
quite heavily in 1882.
Consolidated Cigar was incorpor-
ated in 1919 in Delaware. All classes
of stock are listed on the New York
Stock Exchange. The common is
currently selling at around 8.
(AlI rights reserved. Winchester institute
of Finance, winchester, MaSS.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
SHEEP AND LAMBS
RESEARCH Is SUGGESTED
This Method Proposed as Step to
Lick Depression.
81 Times Special

!
NEW YORK, Oct. 26.-In re-
search lies the answer to the ma
tons business and industrial prob
lens. Robert E. Lee, secretary Of the
VadSco Sales Corporation, declared
today.
There is no question but that the
depression will be licked not so
much by what is going on in the
executive Offices. but by what is tax
ing place in the hundreds Of re-
search laboratories scattered up and
down this country" Mr. Lee stated.
Perhaps this Will be achieved by
putting what are now considered
luxurieS within the reach of the
small consumer or through the de-
velopment Of new commodities and
services now nonexistent."
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
FARM OUTLOOK
HELD IMPROVED
Highest Aggregate Income
Since 1880 ForeSeen;
Rural Sales Up.

The billion dollar increase in the
farm income for the 1884 crop year
considerably brightens the American
agricultural outlook, the agricultural
news service reported today.
This indicates the best aggregate
income to American farmers since
1890, and is reflected in mounting
retail sales in rural areas, with sales
of the two leading mail order firms
showing an increase of 81 per cent
over year ago.
Farm implement manufacturers,
moreover, report that sales this year
are running IS per cent of the cor
responding period last year, and COL
lections are up so per cent.
Farm income for July and Au-
gust exceeded that of the CORE
spending months of the preceding
three years, with the figures includ-
ing cash sales, benefit payments
and government cattle purchases.
These figures are reported by the
agricultural news service as fol-
lows: 1881, 1897, 100000; 1882, $685.
100000; 1888, 1898, 100000; 1884,
81 ,O66 100000.
Even at low prices prevailing in
the last three years the poultry crop,
excluding eggs, has brought an
average of $2OO,OOOOOO in cash an
nually to farmers. This year this
income is running about one1third
higher. The long-term outlook for
the livestock industry is viewed as
favorable.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
CANADA'S ECONOMIC
CONDITION IMPROVES
Major Industries Expand
Throughout Dominion.
BIZ Times Special

BIZ Times Special
MONTREAL, Oct. 26.-Canada
has entered the last quarter Of the
year with conditions in production,
distribution and consumption dis
tinctly better than during the pre-
vious two years, the monthly bust
ness review Of the Bank Of Mon
treal says today.
The review reports an expansion
Of out in sucn major industries as
lumber, newSprint, motor vehicles.
rubber goods, minerals, textiles and
coal, while carIoadings, bank clear
ings and bank debts make favor
able comparison with those OF last
year.
The building trade, after a long
period of dullnesS, has shown signs
Of revival, being aided by the Do
minion government public works
construction.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
On Commission ROlU

Quotations below are average Wholesale
urices being offered 10 BUYERS by local
commission dealers.
FRUITS-Cranberries Cape Cod. early
blacks 25-lb. box. Sass. Grapes, Ohio
Concords Pct. basket. Sl-65; California
tokavs. 16-lb box. Sl.65. CTabsppleS.
Michigan hyslops busheL Sls5 Perslm-
mons Indiana u OTIS. 90c Pears. New
YORK. Bartlets bushei. 81 so. Avacados.
box $50. Ounces bushel. So. Bananas.
pound Sc. pineapples. crate. S. SIZE so.
Apples. maiden blush $3.50 nor tnt SpyS.
slS5: Indiana lonathanS. Sl-b0: grlmes
honey dews, Sl.S5
VEGETABIES-Cabbsg Northern Dan
ish. 50-lh bag 6oc red. buShel. sl.io
Onions. Idaho sweet Spanish. large. Sob.
bag. 81 IS. Michigan. yellow. 81, white
boilers lob. bag. S5c. Western white. 30
10 bag SITS Potatoes. New Jersey
Cobblers. i0O-lb bag. Si.4S; Northern
round white io0-lb bag. Sl.l0; Ohios.
iOO-lb bag Sl55. Idaho RuSsetS. lo0-lo
bag. 81. Sweet potatoes; Indiana Jerseys.
bushel. 81 so. Indiana Nancy Halls. eushel
81 Beans HOMEGROWN String.ess bushel
$50 Limas large. pound 15c- BeetS
dozen zoe Carrots. Ohios. dozen. $50
Caulidower crate. SITS. Celery, Michigan
medium. dozen. s0c. jumbo. dozen, CSC;
hearts bunch. soc CucumberS. hothouse.
dozen. $50. Endive. dozen, soc. Egg
plant dozen. Use Kale, buSheL SOC
lettuce. outdoor. lS-lb. basket. 60e Man
dozen. sSc Peas-Hamper. S2.75. Peppers.
red finger. bushel. SITS. 5-lb. basket. soc.
Rsdishes. dozen. 25c- Tomatoes. outdoor.
f1-ib basket Sc. bushel 81 50. TurnlpS.
home grown. dozen. zoe; pumpkins. dozen
sSc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
CARS JUNKED
DURING SLUMP
AT IS MILLION
0bSoIeSCenCe During 1884
Seen Taking 100000
From Highways.
BY w. IAN MACK
Times Special Writer

NEW YORK, October 26.-With
automobile obsolescence still pro-
.ceeding at more rapid pace than
requirements, expectations in trade
circles today were that more than
100000 additional motor vehicles
will have been strapped by the close
of 1884.
This, it was pointed out, will bring
the aggregate of junked cars for the
five-year period beginning with 1880
to approximately 100000 units.
In consequence of this develop
ment, it was explained, registrations
in 1885, unless new car sales exceed
the volume scrapped during the cur
rent year, will be at the lowest level
since 1926. At that time, the num-
Der of licensed vehicles was 22,001,
900, contrasted with 26,545, 900 at the
peak in 1880 and 23,827,000 in 1888,
according to the United States bu-
reau of public roads.
Assembled Prior to 1927.
Most of the automobiles to be re-
moved permanently from the high
ways this year, authorities indicated,
will include those which were assem-
bled in the years prior to 1927. ESti-
mates place the number of such cars
at about 100000, with the average
life per vehicle now around eight
years, against slightly more than
seven years in 1929.
New car sales in the five years
from 1880, with the current years
volume indicated at slightly more
than 100000 units on the basis of
nine months turnover, totaled 'ap-
proximately 100000.
Thus, additions to motor vehicles
in use have been at the rate of one
new car for each one and a half
automobiles Scrapped in the period
Would Require Nine Millions.
If all cars seven years and older
were junked, trade statisticianS
pointed out, a total of 100000 new
automobiles would have to be sold to
restore registrations to the 1880 level.
Even half such a sales volume, it
was explained, could not be achieved
unless the national income showed
more substantial improvement than
that which has taken place this
year.
Some authorities indicated that
the automobile industry this year
will have sold more than its normal
share of cars in relation to the ma
tional income. This years estimated
sales, incidentally. compare with
ISL 900 units sold in 1888 to domes-
tic buyers, an increase of nearly 20
per cent. In the same interval the
national income is expected to show
a gain of slightly lesser proportions.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
NO NEW SECURITIES
AIMED BY M'LELLAN
Creditor Claims of Store Pared to
10 Per Cent.

DU tWtA NVt t"t
NEW YORK, Oct. 26.-The re-
ceiver for the Mcclellan Stores Com
pany has been so successful in re-
storing the earning power and re-
ducing the claims of general cred
itorS that reorganization will be &C
compliShed without the aid of new
securities. George K. Morrow, chair
man of United States Corporation,
which recently purchased control of
the company, declared today.
Creditor claims have been shaved
to 10 per cent. and it should be an
easy matter to retire the balance
before Jan. 81, he said.
Mr.. Morrow emphatically denied
that he or any Of his associates OBJ
tanned a syndicate profit of any kind
on the recent transactions whereby
his corporation gained control.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
WHEAT EXPORTS GAIN
Shipments From U. S., Canadian
Ports Total 4,O5O,O3O Bushels.

BIZ Times Special
NEW YORK, Oct. 26.-Wheat ex-
ports, including -four, from United
States and Canadian ports totaled
4.O5O,O3 bushels for the week ended
Oct. 20, as compared with 3,318,952
bushels in the previous week and
6,717,4 56 bushels in the correspond
ing period last year, according to
Dun g. Bradstreet.
For the season, July 1 to date.
wheat exports aggregated 57.510,789
bushels, against 62,723,095 bushels
for the same period in 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26

Washington. Mr..
Law did as fine a
job of buck pass
ing" as has come
to the attention of
t his department
in a long time.
Som e months
ago the bankers
were criticised Sc
verely by govern
ment representa-
tiveS for not max
ing enough loans
to business. They
xT-prp said RI no
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
INDUSTRIAL JOBS OFF
FOR CHICAGO DISTRICT
Drop of 1.6 Per Cent Shown in
Month Ended Sept. Is.
BIZ Times Special

BU tmeS SpeCldt
CHICAGO, Oct. 26-Decreases of
1.6 per cent in industrial employ
ment and 81 per cent in pay rolls
were shown in the Seventh federal
reserve district during the month
ended Sept. Is, according to the
Federal Reserve Bank of Chicago.
Industries represented in the re-
port consisted of 5,799 establish
ments with an employment of near
ly 100000 workers and S20,000,000
in weekly wage payments.
The decline was larger than sea-
sonal in employment, but only
slightly in excess of the 1925-1933
average decline in pay rolls for the
period.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
RETAIL FAILURES OFF
SUBSTANTIALLY IN WEEK
Observance of Holiday in Some
Cities Partially Responsible.

Observance of Holiday in Some
Cities Partially Responsible.
BIZ Times Special
NEW YORK, Oct. 26.-Retail
business failures in the United
States in the week ended Oct. 10,
declined from 163 to 1874, according
to Dun & Bradstreet, Inc. This is
accounted for, in part, by the fact
that there was a holiday in some of
the cities reporting, though this was
not generally observed.
Wholesale defaults were IA,
against 18 the previous week; man
ufacturing At, against 81 and other
commercial 10, against "a.
An analysis of the insolvencies by
geographical sections showed a low
er number in the New England, mid
die Atlantic, south Atlantic, cen
trail west, western and Pacific states
as compared with the preceding
week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
LIVERPOOL EASINESS
PUTS WHEAT LOWER
Other Grains at Chicago
Also Show ReCeSSiOnS.
BIZ Tnited Press

BIZ United Press
CHICAGO Oct. 26.-Easiness at
Liverpool brought scattered liquida-
ton into wheat futures on the Board
of Trade today.
Wheat started z to q cent lower,
corn was down 4 to q cent, oats
were Il to q cent off, and rye was
off % to q enct.
Broomhall, in his morning cable,
said that the Liverpool market was
influenced by weakness in American
markets yesterday. Cheaper Cana
dian offers and reports of beneficial
rains brought further selling in the
English market as the day wore on.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
Wall Street
BY RALPH HENDERSHOT-
Times Special Writer.

SpONINE FFAItEIs
NEW YORK, Oct. 26.-Bankers
~ have been accused in the past
of lacking in the fine art Of secur-
ing public good will Francis M.
Law. president of the American
Bankers Association, should be
made an exception to the rule here
after due to his address this week
at the associations convention in
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
FOOD INDEX DECLINES

Dun g. Bradstreet's food index de-
clined l cent to s2.37 for the week
ended Tuesday, the lowest point at
which it has stood since August 81,
and loss of "a per cent from the
1884 peak Of $2.43 registered on
Sept. Is.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
NEW INSURANCE GAINS

BIZ 7 ImeS NDeCl1E
PHILADELPHIA, Oct. 26.-A gain
of 81 per cent in the number of pol
icies and gain Of IA per cent in
the volume of life insurance sold by
the Penn Mutual Life Insurance
Company in the first nine months
of 1884 compared with the cores
ponding period of last year were re-
ported today by William A. Law,
president.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
STOCK VALUE DECLINES

BIZ Times Special
NEW YORK, Oct. 26.-The net
asset value Of the preferred stock of
Interstate Equities Corporation, sub
sidiary of the Equity Corporation,
amounted to 1929 a share as of
Sept. 30. This compares with s41.02
on Dec. 81, 1893.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
STORE COLLECTIONS UP
Improvement Noted During August
by Commerce Department.

. T ITNTN = IFIIWI
WASHINGTON, Oct. 26.-During
August collection percentages of de-
partment store charge accounts con-
tinued above the corresponding
month last year. according to the
department of commerce.
In addition. it was reported. COL
lection ratios on inStallment &C
counts in August were ahead Of the
preceding month this year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26

afraid or unwilling to take a chance
on the administration or on the flu
ture of the country. The situation
was thought to be so bad that he
government itself set up a lending
agency to make loans direct to in
dustry. The bankers were put on
the defensive and did not know quite
what to do about it.
But Mr.. Law ducked the blow very
nicely for the bankers by pushing
it right on down to business. In his
speech he urged business people to
shake off their timidity and I'M
certainty and to indicate ability and
willingness to borrow" The leading
chambers of commerce already had
tossed the whole thing back into the
governments lap, so, with the miss
ing connection supplied by Mr.. Law,
the entire affair has become a grand
game of ring around" with the
government accusing the bankers,
the bankers accusing business and
business accusing the government.
n q
n l..
Il is now more confused than
ever. He was inclined to think that
the government had put its finger
on the trouble when the bankers
were taken to task, but the way it
has all worked out has caused him
to wonder whether anybody really
is to blame for the failure of bust
ness to improve. And in view of the
latest arguments he is not so sure
that the government has not failed
in some respects.
THAT phase of the New Deal
4 which has to do with agricul-
ture will be subjected to very care
full scrutiny by the next congress, it
was learned on excellent authority.
1t is possible that a senate investi-
cation will be ordered. it is said.
The cotton trade in particular is
dissatisfied over the failure of the
Reconstruction Finance Corporation
and the Import Export Bank to
make more loans in the interest of
our cotton export business. The
charge is made that by holding
down acreage in the United States
and by not pushing our export bust
ness more our farmers are losing
their markets to other countries
which have recently gone into the
production Of the commodity. Sen
ator Ellison D. Smith of South
Carolina is to make the fight for the
cotton farmers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
Stock Studies

Consolidated Cigar Corporation is
one of the largest producers Of do
nestle cigars in this country. 1t
manufactures a wide range of
brands and thus meets the needs of
every class of smoker in the coun-
try. Many of its cigars are sold I'M
der nationally advertised trade
names. The company is also engaged
in the growing, curing and general
handling of tobacco of all descrip-
tons.
u7TNT
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
SILVER'S Squirt
IN COLD TERMS
HELD AS SLIGHT
Rise Substantial Only in
Terms of Weak Pound,
London Ayers.

BIZ United Press
LONDON. oct. 26.-Bullion ex-
pe-ts today directed attention to the
fact that while silver prices, meas
ured in the deprecated pound ster-
ling have had a substantial rise, the
price measured in gold has advanced
only slightly.
For example, on the Monday after
China had increased to 10 per cent
its export tax on silver, the London
price for the white metal rose to
247s pence, the highest level since
May, 1920
The bulliOnists retorted that this
comparison IS not exact. In May,
1929. the British pound was a gold
pound. and the price Of "a pence for
an ounce Of silver meant q pence
worth Of gold.
Equivalent in Paper
On the other hand, the price Of
247s pence on Oct. Is was the price
Of an ounce of silver in paper
pounds.
Since the paper pound on that
day could buy only 59.3 per cent as
much gold as the old gold pound
could buy, the gold price of silver
was 24875 pence times 0.593, which
equals 14A pence.
When it is noticed. the bullion
forces further contend, that the
gold price for silver in September,
1881, before Britain abandoned the
gold standard, was around 1924
pence, one realizes that the gold
price of silver, despite the London
agreement to do something for sill
yer" and the Roosevelt program, has
risen only about 2 pence an ounce,
or 10 per cent.
Price Rises 100 Per Cent
The paper price has risen. how
ever, from 1914 pence to PAS pence,
or virtually 100 per cent. thanks to
the depreciation of the pound ster-
ling.
The bullionists have a practical
interest in this bit Of arithmetic.
They argue that silver is still very
cheap to all members of the sold
bloc and TO America. The latter
pays gold if demanded abroad. Thus
to the Washington authorities as to
the treasures of France, Belgium,
Holland and Switzerland, the real
price of silver in London is 14A
pence an ounce, not PAS pence.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-26
Produce Markets

Delivered IN Indianapolis prices: Heavy
hens Iirv.F &c II. IS and over. lie; LeshoTn
springers, &c: old ROSTERS, SC; ducks. Sc
geese Sc. Young guineaS. Zoe CD gulneaS.
f5c. No I strictly fresh country run egeS.
fSSS al iac Each fun case must Weigl
SIS lbs gross: 8 deduction Of lQe q pound
To- each pound under IS lbs. viii be MADE.
TsIitter@No ! 2sG2sc- Butter1at-24c.
Quoted by the Waciey Company.