davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
BY THEODORE PRINCE


NEW YORK, Dec. 27.-The re-
Sponsibility for an efficient, co-or-
dinated and profitable transporta-
ton system should rest in the first
place upon the proposed Federal
Railroad Corp, which would have
% directors and three regional
boards.
The supervision of the manage
ment would rest upon the secretary
of transportation, who also should
be charged with duty of mapping
out a comprehensive and consistent
transportation policy. The corpor-
alton and the secretary thus would
be left, with some exception, undis-
turbed in their control so long as
they agreed.
In the event of a disagreement,
the commission should function as
balance, and its decision render
the act or operation effective or
effective as the case may be.
The corporation and the secretary,
or the corporation and the In
terstate Commerce Commission in
the alternate, should give effective
and co-ordinated action.
Three Bodies to Confer
Any matter for which provisions
is lacking in the proposed plan may
be determined by the unanimous
consent of the three regulatory bod
les, the corporation, the secretary
and the Interstate Commerce Com
mission.
While the office of secretary is
subject to removal by edict, or by
the change of national elections, the
tenure of Office of the Interstate
Commerce Commission and the per-
manence more or less of the direct
ing board of the corporation, affords
a continuity and stability to the
control of the regulatory bodies.
Redress to Courts Stays
No right of redress by application
to the courts is in any way abridged
under the proposed plan.
Certainly, the present system has
been entirely unsuccessful for the
railroads.; as step in regulating
unrestrained management some
generations back, it may have been
necessary. Today it is ineffective and
unduly restrictive. Economic proc
eSses today are dynamic, and static
bureaus and commissions have a
tendency to crush individual effort
and inspiration to achieve that
which is truly American.
1t must be observed that trans
gressions have been visited upon the
present railroad generation in the
shape of adverse legislation and
regulation. This has taken a GER
tain equity out of railroad proper
ties, which somebody must replace
by payment in some form or other
The shipper does not want to pay
it, and the Government refuses to
pay it.
Responsibility Placed
So any plan must in some form
or other place this responsibility on
railroad interest for proper adjust
ment among those best capable of
bearing it. With efficient and SUI
perior management of their proper
ties, over which they have secured
permanent control, the railroad in
terests can recoup themselves by the
consequent improvement in business
and in equities.
Can we construct a series or reg
ulatory bodies that, together reserve
a proper degree of regulation and
supervision without destroying that
dynamic individual initiative that
has always been the cornerstone of
American progress? The proposed
plan attempts to do so.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
BY COILS STOCKING

BY COILS STOCkING
Within a few weeks the President
will submit his annual budget mes
sage to Congress. Since our ma
tional debt has been increasing al
an extremely rapid rate during the
past few years, the matter of budget
making has become a question OF
more than casual concern.
Many critics, dominated by q
bookkeeping philosophy, refer to the
Federal balance sheet and insist
that the growing deficit is prima
facie evidence of gross governmental
extravaganza.
More sympathetic critics attempt
to refute such a claim by an
analysis of the items, and by point
ing out the fact that much of the
Governments Indebtedness is more
than compensated for by an in
crease in the earning assets owned
by the Government. They also call
attention to the amount and sound
ness of the securities received in
return for loans, which the Govern
ment has extended to worthy private
enterprises in need of assistance.
Social Values Noted
There are still other critics who
insist that what they call social
values" should be considered above
all other questions in connection
with governmental expenditures
They pointed to the thwarted hopes
and shattered lives of an enormous
proportion of the citizenry and
maintain that no advanced nation
can reasonably and safely desert its
unfortunateS during a period OF
critical need.
Irrespective of the pros and cons,
there is little possibility of gov
ernmental expenditures being seri-
ouSly curtailed in the near future
And, in spite of possible revisions OF
taxes, it is inevitable that much OF
the funds employed will be derived
from borrowing operations. This
means for that some time yet to
come we may expect our national
debt to continue to grow.
At present our national debt, eX-
Guiding the profits devired from gold
devaluation, amounts, roughly, to
$50, 0O0,O000O0. Many people regard
this as an enormous sum. Yet, a
review of the daily market quota
tions of Government securities en-
phatically refutes the contention
that Government credit is being i'm
paired.
Britain's Debt Larger
BY the way of comparison, Great
Britain has had a national debt of
approximately $4O,OOO,OOO 900 for the
last IS years, a sum which makes
our high total, reached in the fifth
year of the worst depression We
have ever experienced, seem small
/ indeed.
If eventually anything resembling
prosperity is restored the increase
in our national income for a single
year would easily exceed the whole
of our national debt.
We should not allow our concern
to distort our perspective. The fact
is that in spite of adversely our ma
tional debt still represents only a
small fraction of our total national
wealth. With a substantial and gen.
eral increase in income the present
querulous question of how are We
going to pay the bill?" will be con-
| vincingly answered.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Stock Studies

Central Aguirre Associates is the
largest producer of cane sugar in
Puertol Rico. AS the companys
products enter the United States
duty free, it is in a favored posi-
ton. In addition to plantations the
company owns three mills of large
total capacity and 45 miles of rail-
roads connecting plantations and
mills. Through minority interest IN
the New England Alcohol Co. Cen
trail Aguirre has a market for its en-
tire molasses production at fair
price.
FINANCIAL DATA
GAS of July 81
Common stock lno par, 1924 shares
Profit and loss Surplus ......S $40 9I9, 10
Inventories and crops .......... 2267172
Total current assets ........... 5,165, 436
Current liabilities .............. oIS,4a1
During the company's fiscal year
ended July 81, cash increased by
nearly $1,200,00O. Inventories and
crops, however, were about $780,
900 less, but net working capital
gained 9AOU,UUU. T1O14O d14O lOoo oUA
plus increased 100000. On July
81, 1894, the current rate was 9 to
l. while cash alone was 21a times
total current liabilities. The book
value of the common stock was
$20.28, Or SO cents above a year ago.
Central Aguirre has shown re-
markedly satisfactory earning
ability right through the depression
with low point in 1881 and a
steady upward trend since. In the
1884 fiscal year $296 was earned.
The present dividend rate of $1.5O
has been maintained for several
years, while in 1888 5 per cent
stock extra was paid. Dividends
are now being earned nearly twice
over.
Central Aguirre was organized in
1928 in Massachusetts as a volun-
tary trust association. The COM
mon stock is listed on the New York
Stock Exchange. At a current price
of around % it sells to yield 61a per
cent and at tx times 1884 fiscal
earnings.
(AlI Rights Reserved. Winchester Institute
of Finance, Winchester. Mass
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
TO EXHIBIT FURNISHINGS

BIZ times Special
CHICAGO, Dec. 27.-More than
66S lines of house furnishings man.
ufacturers will be shown at the
four market events to be held in
the building Jan. to 10, T., j
Reed, general manager of the Mer-
chandise Mart, reports.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
PITTSBURGH GETS TROPHY

The Pittsburgh agency of the Ohio
State Life Insurance &C. won the
silver trophy in the presidents rally
put on by the field force of the COM
pany in honor of President U. S.
Brandt, it was announced this week.
The campaign started Sept. l.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
SUGAR MELT LOWER

The sugar melt of the thirteen
domestic ref1ners from Jan. l to
Dec. Is amounted to 3,545,00O long
tons against 3,625,OOC for the same
period last year. Deliveries totaled
1855 900 tons against S,410.0OO last
year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
RECOVERY SEEN
QUICKLY CURING
DEBT ANxIET|ES
National Indebtedness Is
Viewed Sinking Before
Rising Income.

This is another of. a series of articles
written for The Indianapolis Times by
members of the economics department
of New York University's School of Com
merce. Accounts and Finance.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Hides and Skins

Hides-Green country cows and steera
312c nat; green country bulls and Clues
&c fat: green country calf hides. 412c:
horse hides with fun heads. shanks. names
and tails, s2.50: medium size. 81. All No;
2 grade horse hides, soc less: Clues and
ponies half price No. / rendered tallow.
4d4lsc: No. at value. yellow grease.
563Ac: dark grease. 2lz1sc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Nez0 Rail7Cuy Lac Urged;
Control ViezUed Main III
Centering of Responsibility
in Federal Agency,
Princes Aim.

The following is the last of series of
six articles on "A New Deal for the
Railroads." written for the indianapolis
Times by Theodore Prince. well known
railroad authority.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
SUGAR FARLEY FAILS
Beet Interests and Labor Unable ia
Reach Agreement.

By Times Special
BILLINGS, Mont, Dec. 27.-Ini-
tial conferences between represent
atives of the Great Western Sugar
Co. and the striking union have
failed to bring a halt to the diff
culties which have tied up the fac
tory for two weeks.
Strikers are seeking G 10 per cent
wage increase and recognition OF
their union.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
DEBT SAVING AIMED
Chicago Bodies Will Seek Legisla-
tive Authority for Proposal.

By United Press
CHICAGO, Dec. 27.-Ross A.
Woodruff, president of the Chicago
Sanitary District, announced today
that his group will join with the
Chicago Park District in a cam
paign for legislative authority to re-
finance its bonded debt.
The plan, if successful, would
mean a reduction of more than So
100000 in the 1885 tax levy for debt
service of both sources.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
LOCAL CASH MARKET

City grain elevators are paying 81 cents
for No Q soft red wheat Other grades
on their merits Cash corn No. yellow
81 cents and oats 20 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
WehIe, Active in Revamping
of MOP, Urges Change
in Procedure.
Bu Times SpeciaI

d. 4 tWoo SptCtNt
NEW YORK, Dec. 27.-Railroad
reorganization under Section II of
the Federal Bankruptcy Act is sub
jected to lengthy discussion and
analysis by Louis B. Wehle, attor-
ney, in the December issue of the
Yale Law Journal. Suggestions for
new legislation also are made. This
law has been Intellectual in speeding
up rail congratulations, he said.
Under this section of the bank
ruptcy law a railroad voluntarily, or
5 per cent in amount of its creditors,
many institute proceedings to invoke
the federal courts custody. The
court may appoint trustee or
trustees with powers akin to a re-
ceiver. The Interstate Commerce
Commission may recommend a re-
organization plan. Before presenta-
ton to the court tWo-thirds in
amount of every class of creditors
and stockholders must have accept
ef il
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Other Livestock
lBv United Press

(By United Pressl
FIT. WAYNE, Dec; 27.-H Hog. odN 1s
dy 2 IS 50 isnts 81 nEs5o6oEa a5 S'R S 1885,
10000 lbs, $3.50; 160-180 lbs. seas; 300
$50 lbs. 80; 15O-16O lbs. $3.50; I4o-l5O
s 9s i6o12S SO ibs $s85; roughs. IS; stays,
81. Calves. So; Lambs. So
LAFAYETTE, Dec. Hogs-Marksst
steady; 275-30O lbs s7.25: 300-32S lbs. 81;
25O-275 lbs, Sis; 23O-25o lbs, $40; 22O-
go lbs d95 2lG22O i 9s a s 8SoS5O lbs lbs
$S.s5; i70-lso lbs $3.50; l6o-17o lbs,
$35 15S-1s9 lbs $s5S 5 5S-iSS lbs
S5.25: 1Oo-14O lbs S350q5; .roughs, SOC
higher. TOP SIS So Calves soc higher, $3.50
down. Lambs. soc higher, $4,000.
BY Times speciaD
LOUISVILLE. Dec. 27-Cattle-receipts
commercial $50, Government 1000; salable
supply slaughter cattle light; market &C
tive; strong to 25c higher than Monday on
steers and heifers: bulk common to me-
dunn steers and heifers salable S405.25;
So bulk beef cows, s25o@s; good eligible
higher; most low cutters ara cutters,
calves uuotable S45OG5. Calves-receipts,
commercial, $50; vealers, soc higher; bulk
better grades $6G7; strictly choice, $50;
HogsMReceipts, 500; steady; top and bulk
s s7iISi sos lbs. up, $3.50; IsS-l95 lbs,
S5 5.sS 12oe1s5 lbs 81 40; sows $3.50 Sheep
Receipts, so: supply very lighe; slaugh-
ter classes fully soc or more higher; bulk
medium to good lambs, S7G7;Soi choice
counted common light throwoutS, S.; bet
ter fat ewes, S2d2.50 Receipts Wednesday
Cattle-!Commercial. S42; government,
% Hogs-3l0. Sheep-None.. Shipments
Wednesday Cattle-Commercial, 80.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Retail Coal Prices

from leading Indianapolis coal dealers.
A 25-cent carrying charge per tcn will be
added.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
.. S. Spending Decried

Government spending is decried
as means Of stimulating business
activity. They say in this connec-
ton that projects for Government
spending initiated to increase pur-
chasing power or to create business
would retard rather than aid re-
coyery."
The experience of the last year
and half, when huge sums were
spent on public works with the only
result being a temporary stimula-
ton of retail trade, indicates the
basis for this view. A similar at
titude was displayed in connection
with relief, and the business lead
ers definitely advocated the aban-
donment of these public works prof.
ects in favor of direct relief.
They once more emphasize the
necessity Of a balanced budget and
indicate their belief that this goal
can be reached by a curtailment
of emergency expenditures. Of
course, this program will not appeal
to the "spend-your-way-to-re
cry" group. Already Mr.. Hopkins
and several of his associates have
denounced the business plan-but
this was to be expected.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Approach Realistic

That a realistic approach has been
taken is indicated by careful read
ing of their suggestions. To take
one illustration they point out that
they want stabilized dollar in the
international markets "as soon as it
is practical" This statement def
nitely shows that they have aban-
doEed the dogmatic attitude toward
stabilized currency regardless of
external cCoditions) that they held
IN the early days of the monetary
experiment.
In addition, they accede to the
continuation of the NRA. to the re-
tirement of sub-marginal lands by
the Federal Government and states
IN cooperation with private owners,
and the adoption of system OF UNI
employment reserves after a thor
ough study has been made of the
best means of solving the problem.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Calls for Reforms

Just now there is an immediate
reason for the reform of the equity
procedure of railroad reorganization,
in the opinion of Mr.. Wehle. Sec
ton n provides that every proceed
ing under it is tentative and. shall
fall into equity if there should fail
to develop concurrence between class
maj orities, the Interstate Commerce
Commission and the court The ten
tative character of the procedure
should be eliminated or clarified, in
the writer's opinion.
Abolition of Section n would raise
points of political eXpediency and
public policy, Mr. Wehle said. Any
amendment to it would have to be
so drastic as to work a complete
transformation of Section n both in
theory and practice, he asserted.
Calls 1t Illusion
If unavoidable features and con-
stitutional dangers be removed from
Section II by amendment, every
thing remaining in the statute re-
forming the equity procedure could
be we'll carried, said Mr.. Wehle. He
pointed out, however, that the sup
posed constitutional immunity of a
bankruptcy statute, when dealing
with bondholders' rights, was the
principal reason for Section II, but
it was most certainly an illusion.
Mr.. Wehle suggested, that laws
could be passed and court rules
adopted to give the court pervaSive
jurisdiction. Proper filing of lists of
all creditors and stockholders would
aid efficiency he said. The court,
through the I. G. c., might regu-
late the creation and practice of
protective committees. Selection of
reorganization managers might be
subject to I. G. G. approval, he
added.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27

(By United Press
WASHINGTON, Dec. 27.-Government
expenses and receipts for the current fis-
cal year to Dec "a, compared with the
corresponding period of the previous fis-
| This Year Last Year
Expenses So. 489 1863, 142. 80 81. Sal 306, COL 08
Receipts 1922, 316,682.75 l,452, 296,3II Is
Cash bal 2,584 498, 1858 1,14os ,572 II
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
REVIVAL AIMS
OF CONFERENCE
HELD AS SOUND
Economists Assert White
Sulphur Blue Print
Deserves Support.
JULES BACKMAN AND A. l..
JACKSON

JACKSON
Vice Presidents of Economics Statistics.
Inc
NEW YORK, Dec. 27.-The IL
point plan adopted by the indus
trial leaders of the Nation at White
Sulphur Springs last week furnishes
an important blue print" as to
what industry feels must be done
to overcome the barriers to business
recovery. The Importance of this
blue print" can not be overempha-
sized.
Since the business leaders believe
that the problems they outlined
stand in the way of recovery. it is
logical to assume that they will not
be willing to go ahead until steps
are taken to clear up these prob
lens.
This platform was created out of
their everyday experiences. Bust
ness knows better than any out
slider what it needs, to be able TO
plan ahead with any definite as
surance. 1t is for this reason that
this plan is of so much Importance.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27
Answers Critics

The proposed program : def
mite answer to those who ~ that
business itself does not know what
it wants, and that all it suggests is
a resort to the old methods and to
natural forces. The President has
asked for the cooperation of bust
ness and for plan Of recovery.
Here is one based on experience
rather than on experiment.
Although we may not agree with
every minute detail, we are forced
to agree in principal with their
suggestions. The adoption of the
important parts of this blue print"
would be an important contribution
to recovery. However, the likelihood
for this adoption is not so bright,
because of the opposition that will
be aroused among the money ex-
perimenters, labor, and other af-
fected groups.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27

Latest Stock, Bond and
Commodity Quotations
The Daily Alaska empire., 1934-11-08
VEIN SHOWING FREE GOLD STRUCK ON
 CHICHAGOF ISLAND

A vein has been struck showing free gold in three feet in galena ore, on the mining property ad- jacent to the Hirst -Chichagof Min ing Company on Chichagof Island in which a number of Juneau men are interested, according to word received from Joe Nyland, who is working the property, by George Osborn. one of the owners.
 MT. Nyland stated that the vein had been struck though the exact extent of the deposit is not yet known, and requested that MT. Os- born visit the property to see the find.
 This property is the mining claim staked by J. A. Jackson, "The Millionaire Kid,' about three years ago and is adjacent to the Hirst- Chichagof and across the hill from the old Chichagof Mining Com pany property.
 Owners of the claim in addition to Mir Osborn are Robert Simpson, Allen Shattuck, George Rice, pr. W. w. Council and Ed Snyder, of Tenakee. The tunnel has been driven in about, 100 feet, according to MT. Simpson
The Daily Alaska empire., 1934-11-08

ing Christmas specialties includ- ing plum buildings and a variety of cookies and salads appropriate to Christmas will be given for the women of the town, and later, Mrs. Allen Shattuck will give demon- stration, for school girls only, cov- ering the making of Christmas candies.
 Meeting Tonight
 This evening members and oth- CTS will be guests at the Territor- ial Museum. This meeting, which has been arranged by the Depart r11ent of Fine Arts, Mrs. Neil L. Heard, chairman, will be given at eight o'clock, and will feature a lecture by Father Kashevaroff on Alaska Native Art. It is open to the public and without charge, and it. is hoped that a large num- Der of Juneau people will avail themselves of the opportunity of learning more about this most interesting topic.
The Daily Alaska empire., 1934-11-08
ARGUMENT FOR INT. HICHWA AY
 IS PRESENTED
Former President of ARC. Has Illustrated Article
 in Magazine
scontinued nom .-age one,

ter of drawing the regulations for next year in such manner that residents of the upper reaches of the Yukon River may benefit equal ly with those farther down stream in commercial fishing for king sal mon, which was authorized by the last Congress at the instance of MT. Dimond.
The Daily Alaska empire., 1934-11-08

A large oil company advanced $50,000 so that employees with de- posits in closed bank in Kansas City suburb might obtain their money sooner.
The Daily Alaska empire., 1934-11-08

PLANE FLIES TO SITKA The seaplane Patco, with Shel-
The Daily Alaska empire., 1934-11-08
WAKE UP YOUR
 LIVER BILE WITHOUT CAL0MEL And You'n Jump Out of Bed in
 the Morning Karin to Go

If you fed sour and sunk and tho world Ioolu punk, don't swallow lot of salts. mineral water, oil, laxative candy or chewing gum and expect them to make you suddenly swset and buoyant and full of sunshins.
 For they can't do it. They only move the bowels and . mere movement doesu't ret at the cause. The reason for your down-and-out feeling b your liver. It should pour out two pounds ofliquid bile into your bowsls daily.
 If this bile is not flowing freely, your food doesn't digest. It just decays in the boweIs. Gas bIosts up your stomach. You ,havs . thick, bad taate and your breath 10 foul, , skin often breaks out in blenishes. Your head aches and you feel down and out. Your whole svstsm is poisoned.
 It takes those good, old CARrER's LITTLE LIVER PILLS to re- thsse two pounds of bile acwing freeiy and make you feel 'sup and up." They contain wonderful, hsrmless, gentle vegetable extracts, smazine when 1t comes to making the bile flow freely.
 But don't asI for liver pills. Ask for Carter's Little Liver Pills. Look for the name Carter'o utke IAstg Pnls on the red label. Rsssnt .
 lf
The Daily Alaska empire., 1934-11-08

don Simmons, as plot, went to Sitka today with two passengers, and planned to return today with one person.
 Mrs. Teresa Grossman, Sitka restaurant proprietor, and Thomas Tilson, Jr., Sitka merchant. were the outgoing passengers. N. A. Mo Eachran was due to be picked up on the return trip at Hawk Inlet.