davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-12-27
Today's Foreign Short-Wave Schedule

ndon-G sEs kOs to GS, 1870 NOs SA5 CSC. tHno
kIOS 6 to 8A5 a. M GB, $50 kNOs I to $50
Pals-Y 1920 MOs to II FYA 1880 kos 115 M p
FYA 11,705 MOs. 3 to 6p
Marld-EAQ, 1886 kHOs, $50 40
1880 kNOS 8 to II
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
big SHOT OPERATORS
NAMED CRUSADERS
Get Commodity Conscious
Is Their Motto.
BIZ United Press


LONDON, June 5.-Names OF
some of Americas most prominent
market operators-such as Ben
Smith. Thomas Bragg and E. L.
Cord-are being linked with activi-
ties of the CRUSADERS" a London
market group trading in commodi-
ties.
The crusaders" repeatedly were
formed by John Howeson, tin mil
lionaire, with the idea of doing
something" for little known but
worth while commodities. At the
moment, shellac and black and
white pepper are receiving attention
from the group.
Smith recently returned to his
office in New York, after an ex-
tended tour, considerably impressed
with the possibilities of the shellac
market. Rumor has it that he was
active in the shellac market while
here.
Cord, now center of rumorS re-
garding kidnap threats against his
family, laughed when told of
rumors he was one of the crusaders
He said he was having a holiday
from all markets"
But the crusaders are continuing
their efforts which have been spec
tacular in the last few months
Their motto repeatedly is "get COM
modify conscious"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
STOCK SHARES
SEFRACT|0NS
TO TWO POINTS
Steady Buying Movement
Carries All Security
Values Higher.
BY ELMER C. WALLER
United Press Financial Editor

NEW YORK, June ga steady
buying movement, which in the sec
ond hour resulted in the best activ-
ity in more than a week, served to
send prices upward fractions to
more than 2 points in the Stock
Exchange today.
Mining shares provided incentive
for better market tone. Inflationary
rumorS would not be downed and
silver and gold mining shares
leaped, touching new 1884 peaks in
one or two instances.
There were a number of favorable
dividend reports. Connie iity mar
kets snapped back.
In the mining group, United
States Smelling maintained a gain
of almost 2 points above ia and
Noranda, Dome, American Smelt-
ing and others shared the better
ment. Kennecott gained a point on
strength of dividend resumption.
Dupont was one of the active
leaders in the general list, advance
ing almost 2 points to IS. United
States Steel had a point gain,
American Telephone about the
same and American Can more than
2 points Rails firmed under leader
ship of the western grain1carrying
roads with Atchison advanced more
than 2 points at Sc. New York Cen
trail, Southern Pacific and Union
Pacific all were improved more
than point. Utilities were firm
and strong while some revival of
interest came into the motor group.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Average Decrease an Acre
Is Shown for Sixteen
States in U. S.
By Times Special

By Times Special
WASHINGTON, D. c., June s.
Farm real estate taxes an acre de-
creased IS per cent on the average
from 1882 to 1888 in sixteen states
on which surveys have been COM
pleted by the bureau of agricultur-
al economics, according to the
United States Department of Agri-
culture.
These states are widely scattered
over the country, and from their
previous farm tax records appear
reasonably representative of the
United States as a whole.
Farm real estate taxes on all land
in farms rose from % cents an acre
in 1913 to a peak of 81 cents in
1929 for the sixteen states. This
represented an increase of 148 per
cent. Corresponding figures for the
country as a whole are "a cents and
So cents, or an increase of al per
cent.
Year-to-year changes from 1929
to 1882 have been closely parallel
for the average of the sixteen
states on the one hand and the
United States average on the other
So it is believed that the IS per
cent decrease for the sixteen states
between 1882 and 1888 is a good in
dication of the average change to
be expected for the country as a
whole.
Although farm taxes an acre de-
clined % per cent in the period
from 1929 to 1882, the tax burden
of farmers rose sharply, because
both the farm land values against
which these taxes were levied and
the incomes of farmers fell more
rapidly than did taxes.
For the United States, farm real
estate values fell 81 per cent be-
tween the paymnt of the farmers
1929 and their 1882 taxes. Thus
taxes in relation to land values in
creased by about quarter from
1929 to 1882. In relation to gross
farm income, farm taxes nearly
doubled during the same period.
Tax payments decreased in rela-
ton to land values from 1882 tc
1888 for the first time since 1913
1919. Farm real estate values in
creased 4 per cent for the country
as a whole between March l, 1888
and March l, 1884. Farm prices OF
the things farmers sell rose about
II per cent between the annual
averages for 1882 and 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
MAJOR GRAINS
WEAK DESPITE
BULLISH NEWS
Passage of Commodity Bill
by House influences
Future Prices.
BY HARTMAN w. NICHOLS
United Press staff Correspondent

CHICAGO, June 5.-Passage late
yesterday of the commodity ex-
change bill by the house of repre-
sentativeS tempered the hullish in
fiuence of further drought reports
from the northwest today and
wheat prices slipped at the opening
of the Board of Trade.
The principal grain opened Y 10
e cent lower, corn was unchanged
to off Is cent, oats were % cent
lower to Is cent higher, and rye was
y to Is cent off.
The trade was disappointed at the
unexpected introduction of the bill
to regulate commodity exchanges
since it had been believed there
would not be time in this session to
consider it. Dry weather news from
the parched northwest remained
unchanged.
Liverpool wheat opened IA cents
lower, about as expected.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
PORKERS DROP
5 TO 10 CENTS;
VEALS STEADY
Cattle Market Irregular;
Lamb Prices Move
Sharply Lower.

Heavy receipts on hand again at
the Union Stockyards today sent
porker prices mostly to 10 cents
lower than yesterdays average.
Receipts were estimated at 1000
against 5000 for the previous ses-
sion.
The bulk, 100 to $50 pounds, was
selling at 1925 to $3.50, while
heavier kinds, weighing from $50 to
$50 pounds, sold at $3.45 to 1855.
Few choice kinds brought $3.50.
Light slaughter pigs, scaling from
100 to 100 pounds, were salable at
$2.15 to $2.65. Extremely light
grades. weighing 100 to 100 pounds,
caShed in at $1.4O to $190. Packing
sows sold at 1925 to $2.85. Hold
overs, 811.
Initial action in the cattle mar
ket was slow and steady, With a
few better weight steers strong to
around Is cents higher than yes
terday'S close All other grades I'M
changed. Top on steers was So.
Receipts numbered 1900.
Activity was light in the veal
market, with practically all classes
steady at SIS down. Receipts were
1000
Weak undertone prevailed in lamb
trading, with spring classes moving
sharply so cents lower. Other kinds
were weak and stationary. Receipts
were 1000.
Asking was strong on hogs at
Chicago, with no early sales re-
ported. Receipts we're estimated at
$4,000, included 10000 directs; mold
overs, 1000. Cattle receipts were
$500; calves, $500; market I'M
changed. Sheep receipts, 5000;
market unchanged.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
On Commission Row
June D.

June D.
Fruits
Apples-Fancy Ben Davis. Indiana,
s1;75; fancy Winesaps. 81: ESQ IS.
Cherries-California. 16-lb. lug $3.50
0ran ng1 SSaL To- Sunkist. s4.75G5;
Lemon nom; 81; Red Ball. $3.50.
OBSERVATION-DISCLOSURES Seedless. $3.75@4
NEUTRALITY-SUSPICIOUS., 24-qt crate, $40
2-50; Premiers. s2.50@2.775.
california. Pony crate.
ESQ: Jumbosa ass. SS.75; standards. S3.25;
Pears-Calavos, 81 per box.
Bananas-Per pound. SC.
Vegetables
Cabbage-Tennessee pony crate. s1.25.
Celery-Florida, S4.25 a crate; mammoth
bunch, 90c; medium bunch, 60c.
Onions-Indiana yellow 50-lb. bag, 75c.
PotatoeS-Northern round white, 100-lb.
bag. s1.75; Red River Ohios,, $1.5O; Maine
Clures. 81; Idaho RUssets. 100-lb. bag. So;
New Texas Triumphs. S2.10.
Sweet Potatoes-Tennessee Nancy Hans.
aragus-Home grown. dozen. 6Oc@
Beans-Round, stringless. SIPS.
Beets-New,. Csc a dozen.
California. 6-dozen crate. s3.25;
uIifowerWCalifornia, s275.
Lettuce-Hot house. 15-lb. basket. 90c;
Iceberg best, S4@5 a crate:
PeaS-28-lb. hampers. $3.50.
Radishes-Home grown buttons. 3oc a
Rhubarb-Home grown. dozen. 30c.
Spinach-Home grown, buShel, Toe.
Tomatoes-Repacked,1 0-lb. carton. S1.25:
original Texas. 3o-lb. lug. S2.25.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
APRIL MANUFACTURING
CONTINUES EXPANSION
April Advance Carries Industry to
80 Per Cent of Capacity.
By Times Special

By Times Special
NEW YORK, June 5.-Manufac-
turing activity during April eX-
banded for the fourth consecutive
month, bringing the average up to
SO per cent of capacity, 1928 per
cent above December.
Current reports of a slowing down
in activity suggest that the index of
factory output reached the peak of
the upward movements during
April, although the index during
that month was 8.3 per cent below
the 1888 peak.
Advance in the prices of manu-
featured goods is blamed for the
decline, but there is little reason to
believe at the present time that the
current recession will be particularly
serious. Value of factory output in
April was not as far out of line with
farm income as July, the 1888 peak
month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Money and Exchange

INDIANAPOLIS BANK CLEARINGS
June g.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
CHICAGO FRUIT MARKET

Iby UUIltU TI6NnJ
CHICAGO, June 5.-Apples--,M Michigan
85c bushel. Spinach-Illinois. 25@ SOC
bushel. Beans-Southern green, 25c@Sl;
wax, 40cG S125 bushel hampers. Cucum-
bers-Central western dollhouse. 80cMS1.7 rs
q dozenl Tomatoes-Texas, S110@ l. SO
lug box Sweet Potatoes-Tennessee, 81. go
bushel hampers. Mushrooms Illinois, 15q
SIC box. Strawberries indiana, $2d3. SO
I24 Quarts Onion market: (50-lb. sacks
Texas-White, SIPS; Fellows, SIPS. Cali
fornia-Whites, S1.25.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Announce Loan Payments

D 4 ITO" ''PVItUt
NEW YORK, June 5.-A total of
$12,940,O56 of the $73,691,368 in
loans made by the Railroad Credit
Corporation has been repaid by
borrowing carriers either through
cash or credits up TO June l, it has
been announced, leaving total of
$50, Isl ,312 in outstanding loans on
that date.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Wall Street
Bankers Make Mistake in
Offering B. M. T. Bonds,
Reader Believes.
by RALPH HENDERSON,
Times Special Financial WrIter

A READER writes in to suggest
L n that the bankers who recently
f1oated the Brooklyn Manhattan
Transit bonds probably made a big
mistake in seeming to evade the
spirit of the securities act of 1888
if not the letter of the law. my
feelings" he says, lis that it was
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
June A.
Santos
SUGAR
INCOME GAIN REPORTED
United Gas Balance for IL Months
Totals S3,ISS,167.
By Times Special

By Times Special
CHICAGO, June 5.-Report Of
the United Gas Corporation and its
subsidiaries for the twelve months
ended April 80 shows a balance
carried to surplus of S3,188,167,
equivalent to $708 a share on the
ST preferred stock.
The report shows a decided gain
over that for twelve months ended
Dec. 81, when the balance was ST.
267,146, equal to $5.04 a share.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
LOCAL TRUST COMPANY
RENAMES ALL OFFICERS
Fidelity Reports S14.722.2s Income
for Year; Declare Dividend.

Timothy P. Sexton was re-
elected president of the Fidelity
Trust Company at the annual meet
ing of board and share holders yes
terday. All other officers and board
members also retained their posi-
lions.
Mr.. Sexton announced the COM
pany showed very prosperous year.
having increased its assets from
SLIT, O92.5S to $2,O19, 65151. A gain
of 100000 in deposits since Jan.
last year also was reported.
Net profit of the company for the
year amounted to $14, 1929, as COM
pared with $207.75 in the previous
year. A dividend of per cent was
declared by the board OF directors.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
IS Dividend Changes Favorable

NEW YORK, June 5.-Favorable
dividend changes last week num-
bered eighteen, two less than in the
prvious week, and unfavorable
changes numbered four against two,
according to Standard Statistics
Company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05


CHICAGO, June 4.-Cash grain: Wheat
No. red, CSC; No. 5 hard 9532c; sam
PIE grade hard, 9Oe; No No h hard weeyilXX
971ac Corn-No. mixed 5f'sc; No.
yellow. 56Q57c; No. 2 yellow, Ne. 56Ac;
No yellow. 5624c; No. vel. Nv, 56l2c;
No white. 6O14 @61c: No 6 hite. 58c;
sample grade white. sec. OatS-No;
white, 43@44c; sample grade whites
4O34c Rye-No sales. Barley-Sales. CSC
cIover~Seed, s1O.25@14. Cash provisions
Lard, S6.S7; loose, s5.7e; leaf, $3.50; bel
lies, S8.75
in elevators, transit billing: Wheat-No
2 red, 9912c@s1.O012 Corn-oNo. vel.
low, 5712 @5812c Oats-No. 2 white. 45l:
d461ac Track prices. 281ac rate: Wheat
No. red, 96@9612c; No. 2 red, 95G 95l2c
Corn-No. yellow @5412c; No
yellow, 521a@591ac; No: yellow; 51ls@
521ac Oats-No. white 4264312c: No
8 white, 4112643c. Seed close-Clover-
Cash. s8.25. Alsike-Cash, $3.50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
BIZ United Press

PARIS, June 5.-The dollar weak
ened today with the franc at 1859
to the dollar (6.601 cents a france
The pound was weaker
Gold continued to flow to the
United States. The Bremen will
carry 100000 in bullion tomorrow
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05

poor policy and
in bad taste.
Such methods
certainly will
not help the
feeling toward
Wall Street in
V e S t m e n t
bankers.
His point is
we'll t a k e n J..
The a C t on
probably will
arouse the re-
sentiment of a
gre a t many
people toward
the Street. And
the Street can
not afford to
lose any aGdi-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Other Livestock
(BY United Pressl

GOO, Including 1900 di rects; Strong on
weights about steady With Yesterday; lights
able light lights $a5o@2 1857 most nos 0 pgs
S sn IL packing sad6 soTs S2a5 ght lights 100
weight, 10000 lbs, good and choice. 81. IS
a 3;S5; medium weights 200-250 lbs. good
and an 3s choice. sS.15@365; heavy. weights,
backing to s555o ibs medium 81 and
lbs sGSd and 5o choice; lbs s5S Cattle
steady market on better grade weightv
steers and good and choice light and
long lon yesarllingS; not much strictly grain
yearlings wea; fresh receipts increased by
liberal holdovers from Yesterday compris-
ing lower grade steers; she stock and
TOP weighty steers $9s5. with Some held
selling at $3.50 down; better grades 81
up: slaughter cattle and vealers: Steers
$50 800 lbs. good and choice, $5.50@775;
100, 800 lbs good and choice E $S J5 SI
10; 550-1 300 lbs, commend and medium:
So 25m7 heiferS. 550-750 lbs. good and
choice, $4.75d6.50; common and medium
81 500 AIS; cows. good. $36425; common
and medium. S2@3; low cutter and cutter
beef, $275@s5O cutter, common 1G and iG me
dium. $2@2.85; .vealers. good and choice.
- %sd nelly rG Gull f.a aPd
cattle steers 55O-1 $50 lbs, good and
choice, $4@5.5O; common and medium
81 25@4; SheepmiRece,iptSs 5000; better
cents off; sheen steady1s TOP spring lambs
ss5 ous sop So ewes M bulk GOWn
slaughter sheep and lambs spring lambs,
good and choice, $S@9.25; medium. Sc; 75@
@2,1o:, all weights common and medium,
'' FT.' W WAIVE, Ind. June 5.w.Hogs-Mar-
2oO-25O lbs, $685. 10000 lbs 1925; 800
lbs. s2;25; I3O-l4O lbs: 81; l2o-13o lbs,
Stays. 81. caives~$45o. LambsSsS5O.
LAFAYETTE, June 5s;-Market, s. to 10
S g. fa6i4o Ss go SO
LOO; 100-120 lbs. 81 .15G1 40; roughs, 81. so
down; top calves. 81; spring lambs, $7.50@
$50.
(By Times speciaD
LOUISVILLE June 5.-Cattle-Receipts.
$50; market slow, about steady with yes
mon T6on's to medium grassy steers and heif::
S S5 fo sell above eeS bulk Seef cows
$225@3; pracstical top dryfeds $780, low
cutters and cutters; s1 ,I sausage asg bulls
shortho IN stockers. $494.75 caives-Re-
ceipts. $50: steady; bulk, 81 down. Hogs
Receipts, 1900; market. IS to Is cents
lower; most loss on weights from 1876 lbs
down; 1925 lbs. $3.50; 275 lbs. up,
81 90; 16O-185 lbs So; 145-16O lbs, $275;
120-145 lbs, 81 IS; .1oo-120 lbs, $155; sows.
4 decks Tennessee Springers; bulk of run
trucked in lambs; practically nothing done
on the market; early indications weak to
unevenly lower; some interests talking 81
lower on spring lambs: sellers generality
asking so cents lower or up to $3.50 for
bulk better trucked ewes and wethers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Retail Coal Prices

The following prices represent quota
lions from leading Indianapolis coal deal
ers. A cash discount of Is cents per ton
is allowed.
Domestic Retail Prices
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
u. S. DOLLAR SPURTS
ON LONDON EXCHANGE
Gold Price Raised Ten Pence, Then
Drops Cent to $34.76.

By United Press
LONDON, June 5. The dollar
strengthened sharply today after
the British war debt note to the
United States. The pound was
$5O3%.
The gold price was raised ten
pence to 1873 shillings, but neverthe-
less it dropped one cent to $34.76
because of the dollars strength.
Yesterdays price was fixed with the
pound at $5.07.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
Farm Real Estate Taxes
Drop Is Per Cent in Year
Cash Grain
INDIANAPOLIS

INDIANAPOLIS
The bids for car lots of grain at the
call of ne indianapolis Board of Trade.
+. 0. b. shipping point. basis Ala New
/ WI Wheat@weak; No red. $4,000: No.
2 red. S76S8c: No. 3 hard. S79 88c.
Corn-Weak; No. 2 white. 81 q 53c: No.
white 5O@51c: No. 2 yellow, 48@4Sc
No. yellow. 47648c: No. 2 mixed, 46Q
47c; No. mixed. 45646c.
Oats-Weak; No. 2 white. 37@3Sc; No.
8 white. 36Q37c.
Inspections
Wheat-No. 2 red cars. Total. cars
Corn-No. white. l car; No. 6 white
l car; No. 2 yellow. cars: No. vel
low. IL cars: No yellow. 5 cars: No.
yellow. 2 cars: No. yellow. car
Total 81 cars.
Oats-No. l white. l cars; No. 2 white
cars No. white. cars: No. white,
cars. Total. IA cars.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
(By Abbott, Hoppin g. Co..
Treasury Statement
by United Press)

WASHINGTON, June 5.-Government ex-
penSes and receipts of the current fiscal
year to June 2, compared with the CORE
spending period of the previous fiscal wear:
r,,- =. ms year. Last year
Receipts. 2743, 71S, COS. "a 1906 61G i2S ID
Denclt 1853, sos 065.72 1893, 5O7, COZ, 96
Cash ball.. 2,011, $40, $500 -
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05


tional favor in the minds of the
public. In fact, it should be greatly
concerned with winning back the
public's confidence and its good
wishes.
But circumstances sometimes make
it advisable to disregard the conse-
quences. In this particular case
it was greatly to the advantage Of
the B. M. T. to secure the financ-
ing. The bankers were reasonably
certain, apparently, that they could
dispose of the issue without going
through the usual procedure. Con-
sequently they undoubtedly decided
it would not be good business to
run the risks involved in offering
the bonds in compliance with the
spirit of the securities act.
IT is becoming more and more
L apparent that the securities act
is too rigid in some respects. The
provisions it imposes raises the very
serious question of whether respon-
sible underwriters can afford to do
business. Under such circumstances
it is but reasonable to expect eva
sion of the law. And the tendency
to eVade renders the excellent fea-
lures of the measure impotent.
There have been great many
things for which Wall Street has
been obliged to answer. The i'm
portant people in the financial dis
trict are fully cognizant of them.
They profess to be anxious that the
Street turn over new leaf. But
any law which must of necessity be
evaded is a bad law, whether it ap-.
plies to Wall Street or to Broadway.
It is likely to be a hindrance rather
than a help in correcting existing
irregularities. The securities act of
1888 as it stands would seem to be
in that category.
TINE very fact that the B. M. T.
l. bonds could be sold without adj
vertiSing and without use of the
mails and totally within the bounds
of New York state suggests that
they must have been good. Being
good, they probably would have had
little difficulty in meeting the re-
quirements of the federal trade
commission, which is charged with
administering the securities act.
But in filling the necessary appli-
cation for national distribution, had
the facts been wrong in even one
respect, the bankers and the man
agement as well might ccw years
hence be called upon to answer law
suits from every person who ever
owned the bonds. And the profits
the bankers made out of the deal
might be small indeed compared
with the penalties they would be
obliged to pay.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-05
CHASE OFFERS BONDS
Continental Paper, Bag Corporation
Gold Issues to Be Sold

Gold Issues to Be Sold
BIZ Times Special
NEW YORK, June 5.-Chase Ma
tional bank, trustee for the Con-
tinental Paper and Bag Corporation,
is offering for sale the company's
first and refunding 61z per cent
twenty-year sinking fund gold
bonds, series GA" due Feb. l, 1914.
Price for the bonds is not to ex-
coed 1041a and accrued interest, in
an amount sufficient to exhaust
$70.723 in the sinking fund.