The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-24

Highlights of the
News During the
Last Week.
By VINCENT ;. LYONS
lines Financial Editor

Valley Authority properties vas
followed BY the announcement that
he intends 70 have similar develop
ments. with their consequent cheap
power. streEn throughout the
country. &C.. me National Popular
Government League warns that
public utility companies are pre-
pared 70 foster a monster propa-
ganda campaign 20 ODsrruct the
completion Of the President
dream. Secretary Of Agrl-
culture Henry A. Wallace. bowling
before the applause o. a full house
at TOmlinsOn hall. declared that as
an aid TO recovery about IS 100000
crop acres must continue 70 Dc neld
out OF production and recommend
ed legislation for sound commodity
credit linked with the agricultural
adjustment act Declaration Of
the regular s225 dividend on the
capital shares Of the American
Telephone and Telegraph Company
maintained the 50 annual rate on
those shares. which has been PAID
IN every year since 1922. albeit the
company has had 70 dip into sur
MUS in the last few years Don
aid Richberg. director OF President
Roosevelt's executive council, who
is being labeled Witn the appella-
tiou assistant president Dy many,
drafted a SIX-pOint program lot
permanent NRA legislation IN
speech At New york. Business vas
particularly interested in his state
ment that we must change one
rnisroucepfiOn OF the antitrust
laws. thev were not intended as
restraints upon agreements 70 com
pete fairly. -. Economists oi me
agricultural adjustment admins
tration estimate that farm income
this wear will be $1,000 600 900, and
possibly more. ahead Of last year
CORN futures usurped VneaIS
~ position as the chief trading
medium on the Chicago Board 81
Trade. The usurpatiOn vas more
along the lines of an interesting
price performance than 1t was IN
outdistanclng wheat in trading vol
ume Production ~ eiectIlCity
throughout the country last week
aggregated 1881 .O46.0O0 kilOWat
hours the heaviest load since the
week OF Jan. "a. 1891 Nervous
owners Of securities Of the Missouri
Pacific railroad had their worst
fears allaved bv the statement from
.IesSe n. Jones. RFC chairman
that the government was not inter-
ested in precipitating railroad
hankrtlDfcieS The increase IN
iron and steel demand. which has
been evident during the last lev
weeks. is gaming momentum, win
specifications IN the Chicago area
the highest IN tWenty-one weeks
Output Of cigarets continues at
q record pace. the October hgure
beinr lOTs132697. contraStcd
with 7i76 .4O6. FOB IN the correspond
inc month last wear e.. Gold hold
mos NJ the United States. enhanced
recently bv imports from abroad
have reached a record high value
Of s8O56 .l2O.443. or slO3I-869.9lt
above the holdings on Feb l. 1874
when the cOuntrvS gold price was
lifted 10 SIS an ounce A rullhe
that the federal milk licensing code
Is invalid and unconstitutional was
issued By a federal Judge IN Chl-
rapo Meanwhile. indianapolis
own milk price war. which threat
ened to bring the retail price gen.
orally down 10 3 cents 2 quart. was
still removed from settlement
DUBLIC UTILITY stocks listed
Il on the New York Stock Ex-
change resumed their down course.
with numerous individual issues at
new lows for the year or longer
other groups. however. gave a bet
ter performance and the daily
turnover. while somewhat below
last weeks average. was good.
Frank NJ. BclgranO Jr.. national
commander Of the American L.
ciOn. urges immediate payment Of
the bonus incidentally. Mr.. Bel
crano Is a banker and bankers gen
orally are against payment Of the
bonus AZ this time. for they view
II as step along initiation avenue.
The Users Gas COmpanyS at
t0rnev. who rs seeking a franchise
10 lav Gas mains and sell gas IN
Marion county outside the city.
offered 10 name the mysterious
personaces behind the offer 10 the
city utility district attorneys
Silas II. StraWn. former Hoover
hacker. Jumped on the Roosevelt
recovery bandwagon by urging
friendly. helpful cooperation be-
tween industry. business and the
government as the remedy for
business revival France caused
CONSERVATION IN the international
wheat conference by asking an eX-
port quota greater than that
sought BY the United States.
rEEEADANAFs HAAAE Hos ANNAA q
nonexporting nation. Fiorello
H. IA Gusrdis. MAYOR Of New
York CITY proposes that loans 10
municipalities Tor public works be
allotted AZ - Of I per cent.
TEXAS oil producers girded to
Il test national recovery legisls-
ton by challenging the validity Of
the oil code. Briefs we're fled with
the United states supreme court.
IN an effort 10 eliminate the
advantages which certain brokers
and specialists have over the IN
dividusl trader. the securities and
exchange commission IS drafting
additional fair market practice
rules. The body Is aiming 10 give
lift 70 corporation executives