davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
END FORESEEN
OF CAPITALISM
Stuart Chase, Economist,
Says We Must Prepare
for CoIIeCtiviSm.

Private capitalism has donned its
plug hat and walked out on the rest
of us, Stuart Chase, prominent eco
nomic and writer, declared in an
address last nigth at Kirshbaum
community center inaugurating the
open forum series sponsored by the
Jewish Community Center Associa-
ton.
During his address Mr.. Chase al
ternately blew hot, cold and luke
warm over the Roosevelt program.
1T looks" he said, "as though the
government must take over a large
part of the responsibility that CAPT.
talism has abandoned. Hence, if we
have trace of realism in our ma
lures, we must prepare for some
form of collectivism and for gov
eminent interference. We must be
prepared to shift from savings to
spending, from production to dis
tribution, from vendability of goods
to serviceability.
NO one man can De an arblter
of vast social change not even Mr..
Roosevelt-but large bodies of in
telligent persons, working together,
can aid the transition and keep it
from becoming too brutal. The
many plans and schemes advanced,
both inside and outside the new
deal, are answers to an insistent de-
mand, demand that is going to
mount and mount.
1T seems to be that the new deal
is trying to face the problem
squarely. I hope to live to see the
day when we can drop economics
into the sea and devote ourselves to
the things which should make up
our real business, the arts, the
sciences and the study Of life itself"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12

During the twelve months ended
Sept. 80, 1884, cash and securities
were about 100000 less and inven-
tories just sligtly more. SURPRISES
decreased $750,0O0, while net work.
ing capital decreased 100000. On
Sept. 80 the current ratio was bet
ter than liz to l while the book
value of the common stock was S18,
or S1.16 less than year ago.
In past years American Bank
Note has had excellent earning
ability. Depression conditions, how
ever, have forced deficits from 1881
and on. A deficit Of 70 cents was
shown in 1888 and "a cents for the
first nine months of this year.
For many years the company has
maintained a 81 dividend rate on
the common. In 1882, however, only
so cents was paid and no dividend
since.
American Bank Note was incor-
porated in 1906 in New York. Both
classes of stock are listed on the
New York Stock Exchange. The
common is currently selling at
about 1914.
(Au rights reserved. Winchester Institute
of Finance winchester. MaSS.l
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
BUSINESS PACE
HOLDS IN WEEK
Steel Activity Advances and
Retail Sales Remain
ENCOURAGING.
EnCOuraQinu.
BIZ Times Special

By ItmeS Special
NEW YORK, Nov. 12.-Business
activity last week remained at prac-
tically the previous weeks level, the
Administrative and Research Corpo-
ration declared today. Although no
appreciate change in the general
trend occurred, steel activity adj
vanced further and retail sales re-
manned encouraging.
with overhanging elections now
out of the way" it was stated,
business is able to concentrate its
attention on future plans, which
should lead to higher level of &C
tivity in the coming months.
"Steel production showed a
further improvement during the
week. Reported activity advanced
to &c per cent of capacity, slightly
higher level than during the cor
responding week of last year. The
previous weeks rate was Is per
cent. Steel consumers have shown
steady demand for the last few
weeks, and the automotive trade is
expected to become more active
buyer.
Retail sales continued to show a
favorable trend and merchants are
looking for a brisk trade during No.
vember and December. 1t is esti-
mated that stores will hire $4,000
workers in this month and $4,000
in December if present favorable
sales continue. Chain stores report
ed increases for the first ten months
ranging from to SO per cent.
Average daily output of bitumin-
GUS coal advanced slightly, petrol
cum production declined. Bank
debts outside New York City and
loans and discounts of member
banks Shrunk further"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
Major Markets Closed

Principal markets in the
United States remained closed
today. The 1894 Armistice
holiday. They will reopen to-
morrow.
This is the first time New
York markets have been closed
for the holiday, which has just
been made legal. In additions
to the security markets closing
there, banks will suspend OPP
erations for the day and all
commodity centers will be in
operative.
Other important markets to
be closed include the Chicago
Board of Trade, Chicago Stock
Exchange, New orleans cotton
market, all Boston markets,
and the Pittsburgh Stock Ex-
change.
Livestock dealings will be
conducted in major centers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
DR.. WRIT WILL SPEAK
AT BANKERS MEETING
Gary Educator to Address Region 2
of Indiana Group.
By United Press


GARY, Nov. 12-Dr William A.
Writ, Gary educator, inStigator Of
the famous senate Red Plot" in
quiry last summer, will speak at
the twenty-ffth annual meeting Of
Region 2 of the Indiana Bankers
Association here Thursday.
Other speakers on the program
will include NJ j. Kriesle, Tell City,
president of the Indiana Bankers
Association; Douglas Malloch, Chi
cago poet and lecturer; w. w. Glass;
er, Gary; j. Raymond Schultz, pro-
fessor of sociology at Manchester
college, and B. D Mitchell, Kokomo,
vice-president of the state bankers
association.
Bankers from eighty-six financial
institutions in Lake, Porter, La
porte, st. Josephh, Starke, Pulaski,
Jasper, Newton, Fulton, Marshall
and Elkhart counties are expected
to attend the meeting.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
HIGHWAY TRADES AID
STATE EMPLOYMENT
Wholesale, Retail Firms Depend
on Motor Transport.

Automotive, petroleum and other
trades connected with highway
transportation provide jobs and
wages for one out of every five per-
sons employed in wholesale, retail,
and service trades in Indiana, &C
cording TO a survey by the nation
q highway users conference.
Out of a total of 57,127 wholesale,
retail and service establishments OPP
Grating in the state in 1888, 12,l64,
or one-ffth, were wholly dependent
on motor transport.
The total volume Of sales for all
wholesale, retail and service busi-
ness In Indiana amounted to S1,023.-
400, 900, of which s182, 048.000 repre-
sented purchases by motor vehicle
owners Of all classes.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
No Additional Great Lakes Water
Needed to Make Inland Waterways
Marketable, War Secretary De1n Says
Illinois Development Has
More Than Panama Canal,
He Declares.

the Monongahela river, which is ex-
pected to carry more freight and
commerce than the Illinois.
Two more sets Of locks and dams
in the Illinois waterway at strategic
points, would completely slackwater
that project, he said, and assure
ample water for navigation at all
times. Construction of these dams
has been approved, he said, and
work will be pushed just as soon as
funds are received from the PWA.
A dam and navigation lock in the
Mississippi river at Alton, Ill, will
be necessary, he said, to assure
ample water at all times in that
stream for naviation between the
Illinois and Missouri rivers.
Another Dam Likely
Another dam may be necessary in
the Mississippi at or near the mouth
OF the Missouri. Army engineers
are now studying the problem to
determine whether the same ends
may not be attained by dredging the
channel deeper, and making it more
narrow than at present.
Navigation on the Missouri will be
assured, he said, by construction OF
the great FIT. Peck, Mont, dam
which is now under way and which
will turn into the Missouri an even
flow of water far greater than that
sought by Chicago from Lake Michi-
gan.
Secretary Dern was highly en-
thusiastic over the construction
work being carried on by army en-
gineers. He described these men as
the greatest body of engineers in
the world"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
OFFICES OPENED HERE
Credit Clearing Company Locates in
New City Trust Building.

The Credit Clearing Company,
established seven years ago in Nash
vile, Tenn, has opened offices in
the New City Trust Building. The
company solves credit problems for
the average person.
Clyde l.. Cox, vice-president, will
have charge of the local offices. The
branch will be the company's first
venture in Indiana.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12

Paraphrasing Mr.. Fitz-
gerald's statement, it can be
said that a peculiar situation
exists in this city insofar as its in
surance business is concerned. Al
though activities in this field are
responsible for a substantial meas
ure OF the hfe-blood which courses
through the city's business channels,
there Is a perceptible lack of statis-
teal data available on the subject.
A quick tour of the city and
rapid perusal Of the classified tele-
phone book gives one an idea of
how important the insurance bust
ness must be. In addition 70 the
hundreds Of underwriters and agen-
cies, there are a number Of home
Offices.
Are Community Asset
Some cities Of the country, not
ably Hartford and Des Moines," Mr..
Fitzgerald continues, have long
been known as great insurance CEN
ters. They draw millions of dollars
each year into their Golfers because
they looked far enough ahead to
see that well managed insurance
companies are, after all. commu-
nifty asset.
They give employment to a great
many people, invest in real estate,
are heavy purchasers of securities.
and are large purchasers Of sup
plies; but above all they give tone
and stability TO a city.
indianapolis has everything in
its favor to rival Hartford and DeS
Moines; in fact, it already is an
important insurance center-only
We don't know it. We hope, how
ever, through the data the chamber
is collecting to lay before our people
Just what insurance means to In
dianapolis."
May Forge to Front
indianapolis has an opportunity
to forge gradually to the front as
an insurance center and, taking into
account the value that has accrued
to other cities from the presence of
insurance home officers, every effort
should be bent toward capitalizing
the opportunity.
Business men will agree that Mr..
Fitzgerald has presented a clear
study of the situation as it is. That
indianapolis can make a bid for
insurance leadership is not merely
a pipe-dream; the facilities for such
an eventuality are available. A will
to win and cooperative effort would
60 a long way in fostering insurance
progress.
incidentally, when the Chamber
Of Commerce study is completed, the
scope of the insurance business in
this city and the aggregate of
money which directly and indirect
ly revolves around this field may
prove to be amazing to many. And
it will be because they have not
realized that a giant industry has
been in their presence.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
MIDWEST STEEL RATE
BEST IN FIVE MONTHS
Substantially Higher Output Is
Seen for November.
By United Press

YOUNGSTOWN, O., Nov. 12.-
Mill managers in the youngstown
steel district today predicted sub
stantially higher operations during
the remainder Of November as they
reported operations this week at
3115 per cent, the highest rate in
five months.
The rate next week will be Il
point higher than that this week
and compares with 90 per cent in
the corresponding week last year,
10 per cent two years ago and %
per cent three years ago.
Operators announced twenty-nine
or thirty Of the eighty-three open
hearts would be making steel next
week
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
ASPHALT OUTPUT RISES
Increase of 25 Per Cent Shown in
First Eight Months.
81 Iin1fs Special

WASHINGTON, Nov. IA gain
of IS per cent in asphalt and road
oil consumption during the first
eight months of 1884 over the same
period last year. was reported today
by the Asphalt Institute. The COM
bined asphalt and road oil consump-
ton during the 1884 period vas
1856 ,626 short tons, as compared
with 2.l3l .092 short tons in 1888.
j. E. Penny hacker, managing
director of the Asphalt Institute,
accounted for the substantial in
crease by pointing out that the
emergency highway provisions Of
the recovery act affected road build
ing during only three months Of
1898.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
HOG RECEIPTS
RISE TO 5000
Quotations at Union Stock
yards Are Unchanged
From Saturday.

The feature of trading at the
Union Stockyards this morning was
receipts of 5000, with quotations in
all classifcations unchanged from
those prevailing on Saturday.
Vealers were steady at 81 down.
Sheep were about steady at last
weeks closing levels. The most were
SETS down and some heavier grades
S5.75 to $6.25.
Reprinted from Saturday..
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
FARMER DEBTORS AIDED
Adjustment Groups Saved 23 Prop
critics During October.
D. Tfuss Special

WASHINGTON. Nov. u. - BY
working out satisfactory debt-settle-
ments with creditors on a voluntary
basis the county farm debt adjust
ment committees in Indiana saved
thirty-Six farms for their owners
during October. according 10 a re-
port received today by A. T. Ander-
son Of the farm credit sdministr 4
ton.
The cases settled involved a pre-
vious Indebtedness OF over $50, 600.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
Problem Held to Be One of
SIackWatering Streams
at Strategic Points.
fcopyright. 1884. BY United Pressl

WASHINGTON, Nov. II. - The
Illinois Waterway and the other
great inland waterways Of the mid
die west require no more water from
the Great Lakes to make them
navigable, Secretary of War George
H. Dern said today.
There is plenty of water available
at present, and to be made available
by the great flood control and 9TH
er waterway projects now under way
in the Illinois river, Mississippi and
Missouri rivers watersheds to take
care of navigation on these streams,
Mr.. Dern stated.
Problem Is Cited
The problem of navigation on
these streams and providing for the
great volume Of water-borne COM
merce now envisaged by inland wat
erWay proponents is one of slack
watering the streams at strategic
points, and control of flood waters,
rather than that of obtaining water
from the Great Lakes system, Secre-
tary Dern said.
The cabinet member has just re-
turned from a tour of inspection of
river and harbors works, and flood
control projects along the Missis-
sippi from st. Paul and Mime
apolis, Mimi, to New Orleans. 1t
was no flying trip.
He and his party made the entire
journey by boat, and Dern, who was
a construction engineer himself in
his youth, personally inspected the
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
Wall Street
by RALPH HENDERSHOT-
Times Special Writer

NEW YORK, Nov. 12-The adj
IN vance in stock and commod-
ity prices the day. after election
had the boys in Wall Street looking
all over the lot for explanations.
Some thought it was due to fresh
possibilities of initiation because of
the break in the French franc and
the likelihood of abandonment OF
the gold standard by France and
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
On Commission ROIU

Quotations below are average wholesale
prices being offered TO buyers by local
commission dealers.
FRUITS Cape Cod. early
blacks. 25-lb. box, $3.50. Grapes. California
Emperors. 27-lb. box. SAILS. Persimmons.
Indiana, - OTIS. soc. Avacados box, Sl.50.
ounces. bushel So. Bananas. pound, sc.
Apples. maiden blush, $3.50; northern spys.
81 IS: Indiana jonathans. sl.55: grimes
golden. Sl5OGi75. Melons California
honey devs S225. Lemons, sunkist, 360s,
SIS SO. red ball. 360s. s5.75. Grapefruit.
70s-60s. So. Lines per carton. Us. 25c;
seedless per hundred. CSC.
YEGETABLES-Cabbag Northern Dan
ish. 50-lb. bag soc; red. pound. SC.
Onions. Idaho sweet Spanish. large, 50-lb
boilers. lob. bag. 35c; western white. So
bag, $40; Michigan. yellow. Sl.25: white.
ID bag. SIS. Potatoes, New Jersey Cob
blers. ioo-lb. bag. si:45; northePn round
81 IS: Idaho Russets. 10o-lb. bag, 50. Sweet
potatoes. Indiana Jerseys, busheL $3.50;
Indiana Nancy Halls. bushel. 81. Beans,
round stringleSs buShel. s2.50. Beets,
dozen. 25c. Carrots. homegrown. dozen,
55c. Csulifower. crate. Sis. Celery.
Michigan. medium. dozen, 45c; jumbo.
dozen. CSC hearts. bunch. 90c. Cucumbers,
dollhouse. dozen. i25. Endive. dozen. 40c.
Egg plant. dozen. 81. so. Ksle. home grown.
bushel Soc Lettuce. outdoor. l5-lb. bas-
ket. soc Mangos, bushel. 81 so. Mint.
dozen. soc. Parsley. dozen. 35c. Peas
Hamper. s3.75. Spinach. homegrown.
broa6leaf. bushel. soc. Radishes dozen,
SSc. Tomatoes. outdoor. i2-lb. basket, 75c.
bushel. 81 Turnips home grown. dozen
2Sc: pumpkins. dozen. sl-25.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
PRODUCTION RECORD OF
CARS is BRIGHT SPOT
Auto Output for Year Expected
Highest Since 1880.

b. Tirlcs Special
NEW YORK, Nov. 12.-The pro-
duction record Of the automobile
industry for the current year and
the last half Of 1888 has been one
Of the brightest spots IN progress
toward recovery. according TO Roy
d. Chaplin. president Of Hudson
Motor Car Company.
While many industries are strug-
Cling 10 increase consumption. the
production Of automobiles this year
viii be the largest since 1880.
OF the passenger cars in the
United States now in use 6S1 per
cent are more than four years old,
and 4S per cent more than five years
old. Mr.. Chspin states This Is due
70 the fact that owners have been
running their old cars longer be-
cause Of the depression
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
M. l. WILSON TO TALK
Assistant Secretary of Agriculture
Speaker at Convention

By Times Special
ATLANTA. Nov. l2.-M. L Wilson.
assistant secretary Of agriculture Of
the United States. viii speak at the
general industry session Of the
Tenth Annual Southern Convention
Of the National Fertilizer Association
here tomorrow. Charles ]. Brand.
executive secretary and treasurer OF
the association. announced.
Speaking on Problems Which
Agriculture Must Meet in the
Future" Mr.. Wilson viii present
ideas Of particular importance 10
Southern farmers and especially
cotton producers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12

construction of each project. His
trip occupied twenty-nine days. He
was accompanied most of the way by
Major-General Thomas G. Ashburn,
head of the Inland Waterways Cor
poration. Together they made a
detailed study of navigation require
ments.
More Locks Contemplated
Mr.. Dern said the Illinois water
way now has more water than the
Panama canal, and nearly twenty
times the water contemplated for
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
MAP FARM CONFERENCE
Annual Farley to Be Held at Purdue
University. Jan. 14-18.
By United Press

FTTtFV tss
LAFAYETTE, Nov 12.-The an
nual agricultural conference, one
of the principal yearly events in In
diana farm circles. will be held at
Purdue university, Jan. IA to 18. A
feature will be the amusement con-
tests for which more than $500 in
prizes are offered.
The contest is open to all rural
organizations, provided the major
ity of the performers live in the
country or in towns and villages of
less than $500 population.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12

OUnST NdJlOIlS Wl1ACIl
still hold to the
yellow metal as a
backing for their
currency. Others
thought the i'm
provement in busi-
n ess and t h e
chances of a fur
Their increase were
the most important
factors.
The elect returns
were interpreted in
S several different
xIrouS A few np0-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
OIL STOCKS INCREASE
Total of 1891, $4,000 Barrels or Hand
Nov. 3.
By Times Special

o y THft5 l9VttIIF
WASHINGTON, Nov 12.-Total
stocks Of domestic and foreign crude
petroleum on hand Nov. amounted
to 331, $4,000 barrels, an increase
Of 100000 barrels over the preced-
ing week, according TO the oil ad-
ministration.
Domestic supplies accounted for
704 900 barrels of the advance and
foreign 216000. Daily average crude
output during the week was $4,000
barrels. dip Of 10000 from the pre-
yious week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
Insurance LEADERSHIP
]. ]. Fitzgerald Tells Some Interesting Things About
Industry in This City.
by VINCENT S. LYONS
Times Financial Editor

The Chamber Of Commerce at the moment is collecting
that should tell something about the position
insurance occupies in Indianapolis according j. j. Fz-
gerald secrarytreasurer of the Grain Dealers National
Mutual Fire Insurance Company and chairman of the cham
oer's insurance committee.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
Stock Studies

The American Bank Note Com
pany was organized as a consolida-
ton of several companies engaged
in the printing and engraving of
corporations securities, stamps, pa
per money and the like. Today it
is the leading company in the print
ing and engraving of corporation
securities, as we'll as in the engrav-
ing and printing of bonds for many
state governments and cities
throughout the country.
Furthermore, it does a consider
able business in the printing of
postage and revenue stamps and pa
per money for various foreign coun-
tries. The company's specialized
processes for engraving and print
ing make its work extremely diff
cult of duplication.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
LIVERPOOL WHEAT

Range Of wheat prices today. in United
States equivalents on 4 basis OF seven
CAV grain bill OF 81 9eis
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
local CASH MARKEf

CITY grain elevators are paying 90 cents
for No soft red wheat Other grades
on their merits. Cash corn No. yellow
II cents. and cats - cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
FRUIrs AND VEGETABLES

CHICAGO. Nov 2-Apples-McIntosh
bushel. % inch. si.75d2; Jonathans 81 IS
= so. Lettuce-Cslifornis. crates, SIPS q
so Sweet Potatoes-Tennessee bushel.
sscTsi. Illinois. sc 81. Celerv-Michigan
crates. 40 8 sc squares. Caulifiower-Oregon
crates. si-55. Cranberries-Ms Massachusetts.
q. barrels So 50T375- Spinach-Missouri,
hushef 50T soc Carrots-Illinois bushel.
s0T Soc Celery-Cabba Ee-Michigan fat
crates. sSc BeetS-Illinois and Indiana
punches 2sGii-c- Asparagus-Calfornia
crates 81 25T 225
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
Treasury Statement
CBv United Press

WASHINGTON. Nov. l2.-Governmsnt
expenses and receipts for the current
fiscal year 70 Nov. g. compared with the
corresponding period Of the previous fiscal
This Year Last year
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12

ID e elopm ents in
Trade and Industry
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12

f250-500D Good and choice. ASA $50
Common and medium ......... 2.50n AIS
Feeder and Stoeker Cattle
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-12
FINANCIAL DATA

GAS of Sept. 80. 1884.