davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
.FIRMER TREND
RULES IN LIST
AFTER DULLNESS
High Grade Issues Score
Gains of Fractions to
Point or More.

By United Press
NEW YORK, Dec. A firmer
tone developed on the Stock Ex-
change in the late morning dealings
today after early irregularity.
High-grade issues made gains
ranging to more than a point, al
though activity failed to develop.
Demand was renewed for mercantile
issues. Aviation stocks we're strong
and active featured by United Air
craft, which made a new high at
1875, up q. Motors recovered. Rails
and utilities made small gains.
Around noon United States Steel
was at 37A, up Il; American Can
1861, up l; American Telephone
1O8, up IS; Atchison 55as, up q
Chrysler 80, unchanged; General
Motors 1875, up Is; New York Gen.
trail 217s, up a; Western Union IS
up l, and Woolworth 547s, up Is.
j. G. Penney made new high al
70A, up Ia. Other issues to make
new tops for the year included Nc
KeSSon & Robbins preferred at 1914
up 4; international Printing Ink al
251a, up Us, and Radio preferred
B at 3815, up Is.
Wright Aero jumped 31s to 55as
while Douglas Aircraft was up more
than a point at 2412. Curtiss Wright
issues were active and firm. Among
special issues, Worthington Pump
stocks continued to gain.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
Other livestock
CBv United Pressl


Fr WAYNE yso sod pes 4.Hegs3stsssdy =, to
s.; Scc1as i6s'' ssss: $4,000 lbs. IS G 60:
iso-iso lbs. SIS IS: s0o-s5o lbs. sS.7s: 49,
l60 lbs 81 rs: 140-l50 lbs. 81; t30-I40 lbs
s3.75; l20-130 lbs. S3.75: ioo-i20 lbs. 81. rs;
rcushs. IS; stays. S. Calves. 81: lambs 81
LAFAYETTE Dec. 4.-Mediums and
heavy. 592oc lower: lights and pigs,
steady 10 25c higher; 250-300 lbs. s6G
$40: 3oo-325 lbs. s5.sS; 2i0-25o lbs. sS.s
$3.50: iso-2io lbs, ss.6SG5.75; no. 100
lbs ss.4sGs.ss. lso-l7o lbs, $3.50; pigs,
s.. so down; roughs; $3.50 down. Calves,
soc higher; $3.50 down. Lambs. steady;
$3.50 down.
by Times Specian
LOUISVILLE. Dec. 4.-Cattle-Receipt
7So. supply light: quality generally plain;
market steady with Monday's advance,
common 20 medium slaughter steers and
heifers salable mostly s550G5. better I'm
shed auotabie 70 $3.50; bulk beef cows
and cutter cows. 81 ia as: bulk sausage ssss;
bulls s2S0G3: stockers scarce salable
mostly 81 down. calves-Market. 80;
market STEADY: bulk better vealers s5a S,
strictly choice. $3.50: medium and lower
grades. 81 80 down. Hogs-Receipts. 100:
10000 lbs. $40 2o0-725 lbs. SIS s5: sos
lbs up. SS.6S: is0-ie5 lbs. SSSS: fe0-f7s
lbs 81 40. l90-i45 lbs 50 90: i70-l3S lbs
s. 20; sows. s435. Sheep-ReceiptS 100.
supply very light; market generally steady
bulk medium 70 good lambs. $3.50 625,
choice ouotable higher; bucks mostly 81 u
@s-1s: common light throxouts. $3.50: bet.
Ter Fat ewes. 1.s0&
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
BY HENRY ]. KUEHLs


NEW YORK, Dec. 4.-The two
formations shown in the chart very
often accompany each other in rap
idly falling markets. The selling
climax appeared many times in the
recent bear market.
1t develops from increased sales
and lack of buyers. often there are
no bidders for stock, with the result
that the bottom practically drops
out of the market on huge volume.
The short interest watches closely
for this kind of market and then
there is a scramble to cover" their
stocks. This covering by shorts usu-
ally encourages new buying and re-
suits in a real snap-back in prices.
A selling climax always marks the
end of long period of liquidation
and heralds turning point. A buy
ing climax is the opposite in signifi-
canoe. 1t shows up at the end OF a
long rise and is quite easy to follow
by noting the markets activity in
price changes and the volume Of
sales.
The market continues to churn
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
BOOKS CLOSED
ON u. S. ISSUES
OF 800 MILLION
Entire Sum Needed for Win
ter Relief Subscribed To
on First Day.

By United Press
WASHINGTON. Dec. 4. - The
Federal Government had plenty of
money today to carry the recovery
program until mid-March after a
rush of the public to buy nearly a
billion dollars in new securities Of
fered yesterday.
So great was the demand for the
two security issues that they were
oversubScribed several times before
nightfall and the books closed TO
further subscriptions.
The decision to close the books
was telephoned from Warm
Springs, Ga, by Secretary of Treas
ury Henry Morgenthau Jr.. who
personally drew up the plans to
finance the Government through
the winter months.
Sets New Record
The issues oversubscribed we're
$3.50, 100000 of 3ls per cent IS to
18-year bonds and $3.50, 1000 of
is per cent 18-month notes. both
offered for cash sale. Treasury oftl-
'cials could not recall any time in
the past four years where the de-
mand for bonds has been SO great
as to bring closing of subscription
books on the day offered.
Still open for subscription are
issues of rs per cent 18-month
notes and Us per cent 41s-year
notes which are being exchanged
for 1902 ,496 500 of certificates fall
ing due Dec. Is.
The 5000, OOO, 900 received from the
cash security sales. together with
cash of $740, 100000 now in the
Treasury, provides working ball
ance" of ST ,640, 900 900 to last it I'M
til the next borrowing date on
March Is, 1885.
This sum. together with income of
around $225 100000 monthly, would
permit Government expenditures to
remain around the recent rate of
$3.50. 100000 monthly without drain
ing Treasury cash below the present
figure.
Treasury Aids Pleased
Should relief demands increase
through the winter months, however,
economies would have to be put into
effect.
Treasury officials were highly
pleased at the heavy demand for
the securities and saw few difficult
ties in completing financing of the
entire recovery program.
The security sale carried the pub
lie debt up 5000, OOO,O 900 to another
record peak of $28, 10000 900, but
still far under the outside limit
of $31, 1874, 100000 set by President
Roosevelt.
The public debt at this figure
compared with the wartime peak of
$26, 500, 701 ,648 reached Aug. 81, 1919
and the postwar low of sis, 719 1885,
1853 on Dec. 81, 1880.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
MARKET VALUE OF 100
COMMON STOCKS GAINS
Increase of 9.3 Per Cent Shown
During November.

During November.
By Times Special
NEW YORK, Dec. 4.-The market
value of 100 representative common
stocks increased $1,115, 10000, or
93 per cent, in November, to $13,-
1875, 563 900 at the end of the month,
according to the monthly compila-
ton of Frazier Jelke & Co.
The market appraisal at the nd
of the month was the highest zee
the end of June, when these sticks
were appraised in the market at
$13, 492, 10000. The same stocks
dropped 81 per cent in October, adj
vanced 2-100ths of l per cent in
September, and rose So per cent in
August.
In October II of the Is sub-groups
constituting the index advanced, and
one, the utilities, declined. The de-
crease in the utilities was $13,822,-
600, or l 6 per cent. The largest gain
in dollars was s236,993, 900 in the
motors.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
LOWER PRICE TREND
PREVAILS IN WHEAT
Decline at Opening Follows
Movement Abroad.

By United Press
CHICAGO, Dec. 4.-The trend at
Liverpool twisted back to the down.
side today and wheat prices on the
Booard of Trade sold off in SYM
pathy.
At the start wheat was unchanged
to q cent lower, corn was I'M
changed to % cent off, oats were
off 1s to % cent and rye was down
% to % cent.
Operators regarded the selling as
natural in view of the recent sharp
advance which for five straight days
carried corn futures into new highs
for the season.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04

man. consequently.
they can not be
viewed with any
great degree Of
poSitiveneSS.
But it is de-
cidedly unusual for
a large Wall Street
bank to make SUCH
a strong statement
in public print.
These banks inva-
riably are very
temperate in their
statements, a n d
l- IL -, u -
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
Wall Street
RALPH HENDERSON,
Times Special Writer

NEW YORK, Dec. 4.-When is
IN an investment speculation?
Always" answers the Bank Of New
York and Trust Company, and it is
about right. Securities, no matter
by whom they are issued and ire
spective of the price paid for them,
are subject to the uncertainties of
business and the fallible judgment of
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
HOME OWNERS WARNED
Must Keep Up Interest and Princi-
pal Payments, Fahey Says.

By United Press
WASHINGTON, Dec. 4.-John H
Fahey. chairman of the Home own
ers Loan Corporation, warned bor-
rowers today that they must keep
up interest and principal payments
on their loans or run the risk OF
losing their properties"
Mr.. Fahey said that while more
than 20 per cent of the corporation
borrowers were meeting their OBJ
legations when due, some few are
under the mistaken impression that
the corporation intends to be unduly
lenient.n
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
FRUITS AND VEGETABLES
(By United Press


CHICAGO. Dec. 4.-Apples-Michigan
Mcintosh bushels. 2lz-inch. sl.75N2: Jona-
nessee bushels ttai15. Carrots-Cali-
f0rnIs bushels. az.50d27s. Beets-Illinois
bushels, 4ed50c. Beans-Florida bushels,
sITI.50 lgresng Caulinower Oregon
crates. 75cGsl20. spinach-M Missouri BUSH
els, asa soc: Illinois coarse Cranberries
Massachusetts h.-barrel s475G5. Let
baRe-Crates. 40d60c. Onion market $50
10 sacksl-Michfgan yellow. 75cISi. 07fzs
Michigan whites, sl75. western yellows,
s0cnsi. Illinois and Indiana yellows,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04

By Times Special
NEW YORK, Dec. 4-The indie
pendent bondholders committee for
the Republic of Cuba bonds, headed
by Senator Bronson Cutting and
with Senator Burton K. Wheeler as
associate counsel. today called upon
all holders of the S40,000,000 issue
of Cuban public works bonds to de-
post their bonds in order to aid the
committee in its campaign to force
the Cuban Government to protect
the holders of these now defaulted
bonds.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
COAL OUTPUT DROPS
Mild Weather Brings Decrease IL
State Production.

Mild weather for the week ended
Nov. II, brought decrease in coal
production in Indiana, a report Of
the United States Bureau Of Mines
showed today.
Indiana produced $4,000 tons, as
compared to $4,000 tons the previ-
Gus week and $4,000 tors for the
same period last year. The states
production was more than 4 per
cent of the nations output.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04

about in a narrow range on rising
volume, but is unable to extend its
advance. This type of market indi-
Gates a top with distribution going
on, thus bringing about a change OF
trend.
After a selling climax is completed
the market enters what Is known as
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04

a technical correction, or rebound
in prices of 80 to SIS per cent.
The reverse action appears after a
long run-up in prices: the market
adjusts itself by selling of and los
ing from 80 to SIS per cent Of the
gain. Technical corrections appear
both in rising and falling markets.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
ERIE LOANS EXTENDED
By United Press

WASHINGTON, Dec. Altman
cial reorganization of the Erie
Railroad Company today was found
by the Interstate Commerce Com
mission not required in the public
interest at present. The commission
also extended for six months the
time of payment by the Erie Of
REC loans amounting to $2,775. 900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
COMMITTEE is FORMED

By Times Special
NEW YORK, Dec. "A protec-
tive committee for common stock
holders of the Studebaker Corp. has
been formed with j. l.. Van Zelm
vice. president of the Bank of New
York and Trust Co., as chairman, II
was announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04

make important remarks they al
most always hedge them about with
so many qualifying phrases that the
importance is lost. They do not wish
to be deceptive or misleading, but
they do insist upon maintaining
their dignity at all cost.
The public, never very proficient
in reading between the lines, how
ever, has failed to get the impor-
lance of their announcements or
has misunderstood them on many
occasions in the past, and the result
has been rather bad. 1t has retail
lated by thinking and saying the
worst about the institutions. 1t
would be inaccurate, of course, to
say that the banks always have had
the best interests of their clients at
heart, but they have had on more
occasions than have been recorded
to their credit.
TINE statement of the Bank of
l. New York and Trust Company
about investments was contained i'll
an advertisement. 1t may or may
not result in a movement on the
part of banks generally to establish
franker and better relationship
with their clients and depoSitors.
but it most certainly does point the
way. The comments it made on in
vestments are worth repeating.
Every security" it said, regard
less of it's quality, is speculation.
If all investments were frankly called
speculations there would be less mis-
understanding of their true nature.
The only difference between So
called investment and an admitted
speculation is the degree of risk
involved. But risk, in some degree,
is always present.
"Such words as security and in
vestment' have an unfortunate con-
notation of safety and soundness.
Their constant use initiates against
a realistic attitude toward the en-
tire subject of investment.
mo security can be regarded as
permanently sound. Realization of
the risk inherent in even the high
est grade security is the first re-
quirement for intelligent investment
administration"
WHAT the Bank of New York
w and Trust Company says
about investments applies also to
the bank themselves. One can not
speak with positiveness about
banks soundness. A bank which is
in excellent condition today may
get into difficulty five years from
now There is always a certain
element of risk in the investments it
holds and in the loans it makes.
No laws can be enacted which will
eliminate these risks. Good man
agment, careful and efficient loan
and investments executives, ample
capital, satisfactory location ana
honest officials and directors all
play an important part in making a
bank safe.
And frank and open discussions
with clients and depositors, either
personally or through advertise
ments, will materially help the pub
lie in making its bank selections.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
u. S. BONDS DUE NEXT
YEAR NEAR 6 BILLION
Fourth Liberty AVS Outstanding
Total Ss,142. 200. 900.

b. Times Special
NEW YORK. Dec. 4.-Obligations
of the United States Government in
the hands Of the public. which will
mature within twelve months.
amount to $5.e65. 274.soo. it was
learned today.
The Fourth Liberty 4iss outStand-
ing have been reduced TO approx
mately S3.l42.O00. 900. OF this
amount 81 SIC. 000, 900 has been called
for April IS.
The First Liberty AIS and the
Liberty 3iss are not callable until
June IS. 1885. and then only If
notice is given by March Is. 1885.
These issues are outstanding in the
amounts Of s535.esl 500 and 1891
22s. 500. respectively.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
BATCHELDER TO SPEAK
By Times Special

y
CHICAGO, Dec. 4.-Charles G.
Batchelder, former chief of the far
eastern division of the Bureau of
Foreign and Domestic Commerce,
will discuss the attitude of Latin
America toward New Deal policies
OF President Roosevelt at luncheon
of the Chicago Association of Com
merce in the Palmer House tomor-
r0W
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
OPENING seen
IN INJUNCTION
SUIT OF H0UDE
Labor Looks ASkance at
Phrase or Any Group
in u. S. Case.

By Scripps-HOcard Newspaper Alliance
WASHINGTON, Dec. labor
looked askance today at possible
loophole in the Governments in
junction suit in the Houde case.
Officials of the National Labor Re-
lations Board, however, scoffed at
such worries.
The American Federation of Labor
prepared to join in the Federal
Court battle at Buffalo as friend of
the court" seeking a broader de-
cision on two vital points than the
Government requested.
The Justice Department COM
plant asked a decree ordering the
Houde Engineering Corp. to meet
and bargain with the elected
representatives of the A. F. of L..
Union in the plant "as the ex-
elusive bargaining representative of
all or any group of defendants
factory employees"
Phrase Held Unfortunate
Inclusion of the phrase "or any
group was unfortunate, said Charl-
ton Ogburn, counsel for the labor
union and a pioneer fighter for the
majority rule precedent set by the
National Labor Relations Board in
this case. He fought similar fight
successfully before the old National
Labor Board in the Denver Tram
way case.
The phrase "or any group" labor
men fear, might leave the way open
for a company to make separate
agreements with the organized
workers and the unorganized.
Mr.. Ogburn's brief will seek
court order with the three words
omitted.
Interstate Commerce Enters
He will also contend that the COL
lective- bargaining guarantees of
Section IA do not depend upon
interstate commerce being involved.
The Governments complaint takes
pains to state that interstate COM
merce is a factor in Houde's opera
tion-thus avoiding the question OF
las coverage in interstate indus
tries.
The federal suit takes on the
aspect of a free-for-all battle, with
word that the National Association
of Manufacturers intends to inter-
vene on the side of the automobile
parts company. The labor board
has assigned Robert B. Watts of its
staff to cooperate with Justice De-
partment attorneys in the trial.
Labor board executives expressed
confidence that the injunction petit
ton could not be interpreted as la
Dor men feared. The phrase "or any
group" they said would merely
allow the majority's representatives
to conduct separate negotiations for
individual departments or crafts
within the plant.
HOude Decision Recalled
The Houde decision, handed down
three months ago contained no such
phrase. 1t held that where a unit
of employees has by majority selected
representatives, it is the right" of
the representatives to be treated by
the employer as the exclusive COL
lective bargaining agency of all en-
ployes in the unit" The unit in this
case was the whole plant
The case will come to trial in a
few weeks, but the eventual Su-
preme Court decision is not likely
for six months or a year if the usual
appeals route is followed. BY that
time Congress probably will have
adjourned, and the present laws
embodying lathe recovery act
and public Resolution 44-will have
expired and been replaced.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
Short Interests ON Lookout for Selling Climax,
HeraLding Turning Point A fter Much Liquidation

This is the fourth Of series of six
articles written for The indianapolis
Times which will explain the significance
of chart formations to market followers
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
Treasury Statement
(By United Press

(By United Press)
WASHINGTON. Dec 4-Government
expenses and receipts for the current
fiscal year to Dec l. compared with the
corresponding period of the previous fiscal
year:
Expenses .$2,912, 434, 64447 $1946, 913, 968 rs
Receipts :, 1,465, SIS, 86503 LA, 409. 786. So
Deficit 49,. 1,446, 754, 1874 802. 500, 1872. 10
Cash bal. l, 594 ,601, 521.35 1,107, 705 ,903 AZ
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04
Chicago Stocks
LOCAL CASE MARKE1

CITY grain elevators are paying SO cents
for No soft RED wheat Other grades
on their merits. Cash corn No. yellow
SO cents and oats 49 cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-04

Latest Stock, Bond and
Commodity Quotations
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-04-16
AT THE MOVIES
Hollywood Revealed
In ParamOunt'S Firm

Hollywood with all its bluff, stuffed
shirts and innermost secrets is anus
hgly revealed in Fox Films latest
release, Bottoms Up" which opened
at the Paramount Theatre Sunday
night. Buddy DeSylva, who produc
ed the picture, has surpassed all his
previous endeavors in this delightful
romantic comedy with songs.
The theatre was in constant up
roar as the film unreeled the story Of
how three merry rogueS and a cir,
with movie ambitions put on false
front and try to crash into the movies
The bluff works, and it isn't long be-
fore the girl is playing a big part
opposite a famous star she has long
been In love with, and her three com
panions are situated in soft studio
jobs. The fun really starts when the
true Identity Of the girl and her com
panionS Is revealed-but we won't
tip off the climax.
interviewer with the comedy anc
romance Of the picture are four song
numbers that you'll be humming and
whistling. They are Waiting at the
Gate for Katy" Turn on the Moon,
Little Did Dream" and I'm
THROWN My Love Away" and were
written by Harold Adamson, Burton
Lane. Richard A. Whiting and Gu
Kahn.
"Pat" Paterson, who Is an importa.
ton from the English stage, makes
har American debut in this film. anc
mr. 1cs,ug y delight to eye and ear
John BQles gives : splendid portraya
- the singing hero. Spencer Trac,
can always be counted on for q goot
performance. Herbert Mundin. ets
Alayers and Harry Green handle thl
3onnedy situations IN their own inim
ftnt1e 1a6hion. The otherS IN tn
Go1k 1helnaa Todd. Robert Emmet
O10ennoe. Det Henderson, susaun
o1cea and Douglee Wood, etye wel
ond snGro1ine per3oFuaAoco!
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-04-16
Picture at Capitol
One Of Years Best

"1t Happened One Night" the new
attraction at the Capitol theater, CO.
starring Clark Gable and Claudette
Colbert, is definitely q must-see. It
will surely be one Of the 10 best pic
lures Of the year, it Is certainly the
finest Of the month, and what's more.
we guarantee that no matter what
kind Of production you usually like,
you'll agree with us that ut Happened
One Night" is sure-fire entertainment
Of the highest calibre.
This Columbia picture surpasses
every expectation. It is the product
OF the same minds that gave us Lady
for Day." directed by Frank Capra
and adapted to the screen by Robert
Riskin, from the novelette, by Samuel
Hopkins Adams.
1T Happened One Night may not
send you out Of the theater q nobler
man or woman. but it will most GER
tainly make you happier person. It
has that sparkling, entertaining. real
istic yet romantic quality that no one
between the ages OF eight and 80 can
@NSSoes AAAV 0AeO0V4OA&O 0AV 4AAA04 4OAOp
the dialogue is scintillating. the direc-
ton is brilliant, and the acting well.
just what would you expect from
Gable and Miss Colbert?
Gable Is cast as an adventurous
newspaperman who insults hts women
first and loves them afterwards. Mis-
Colbert Is runaway society heiresa
accustomed to riding roughslaod oven
the rest Of the world. just what hap
pens when these two IRA forced 4
spend 3 week together =. bat tn
story's too good to b banded about
You'll thank u for II latsr-see Il yos
don't.
In case you haven't realized Il YET
We liked 1T Happened One Night In
mensely. And wei make = confession
It's The first picture II years thu
~ stayed p ~ over again. 70
couldn't ask Ter highsr praissi