davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
STOCK FIRM EXPANDS
Reynolds and Company Adds Three
New Departments.
By Times Special

ny tWeS SpfCtdt
NEW YORK, Oct. 22.-Dissolution
of the New York Stock Exchange
firm of F. A. Willard e. Co., and
the entry into the stock exchange
firm of Reynolds g. Co. of F. A.
Willard and H. w. Grindal as gen.
eral partners as we'll as the virtual
absorption of the entire Willard or
ganization by the Reynolds firm
took place today
These steps mean a considerable
expansion of the investment facili-
ties of Reynolds 81 Co., officials said.
1t will give Reynolds 81 Co. three
new departments, namely, a bond
department, an investment advis-
DRY department under the personal
supervision of H. w. Grindal, and a
foreign department under the man.
agement of Albert S. Knies, for<
merly manager of the departmet
for F. A. Willard 81 Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22


An attempt was made many years
ago to establish reasonable profits
for the railroads. 1t never has
proved successful despite the fact
that thousands of dollars have been
spent for all sorts of expert advice
on the subject, and the carriers now
find themselves in rather bad way
financially. And if it failed in the
case of the railroads, where prices
for services are fixed and where I'M
fair competitive practices can be
eliminated, it might not be expected
to work we'll in other industries
which are not so we'll situated.
1t is a we'll known fact, of course,
that some plants can produce goods
cheaper than others. In fact, some
of our biggest plants today are
among the highest cost producers.
Many were built when prices we're
around their peak levels, and some
have still other factors which add
to their overhead expenses. In all
probability great number have be-
come more or less obsolete during
the period of the depression.
THEN, too, conditions in business
l. are always changing, and ex-
cess profits in good times must be
permitted in order that reserves
may be set up against possible losses
in times of depression. 1t would
be pretty difficult to determine fair
profits" in periods of prosperity
without knowing the duration and
extent of the business slump which
might be expected to succeed it.
Free and open competition in the
past has had the tendency of fore
ing Anticipated and ineff1ciently
operated properties out of existence.
While this has resulted in the
destruction of much property and
capital, it has tended to keep our
manufacturing plants quite virile.
If fair profits" were to be estab-
lished for old, poorly managed or
excessively high cost properties the
country might soon find itself de-
generating into a second or third
class manufacturing nation.
=
IT is easy to see that the deeper
i one gets into the subject of
fair profits" the more involved it
becomes. Inasmuch as profits are
always dependent upon cost, it is
impossible to be fair" to all pro-
ducers or manufacturers no mat
ter whether costs be considered
from the highest, lowest or average
levels.
If profits were based on the high
est costs the public would be obliged
to pay too high prices and in
efficiency would be encouraged; if
on the lowest, many concerns would
be forced into bankruptcy, and if
on the average, capital would be
destroyed through the inability of
the higher cost plants being unable
to set aside a satisfactory reserve
for periods of depression.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
WHEAT PRICES
START HIGHER
Market Rallies on Reports of
Strength in Liver
pool.

By United Press
CHICAGO, Oct. 22-An improved
feeling in Liverpool lent strength to
wheat on the Chicago Board Of
Trade today.
Wheat started p to 3 cent
higher; corn was 4 to q cent up;
oats was up Z to p cent, and rye
held unchanged to a cent lower.
Commission houses and locals rail-
lied to the support of wheat when
the Liverpool cables showed strength
in the English market
The market abroad did not follow
the full decline here and opened
around p pence lower due to the
small world shipment and the de-
crease in floating stocks. The Liv-
erpool parcel market was unchanged
to Az pence lower.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
SALES OF GENERAL
ELECTRIC INCREASE
Total of $121,735,122 Reported in
First Nine Months.

BIZ Times Special
SCHENECTADY, Oct. 22.-Sales
billed by General Electric Company
during the first nine months of 1884
amounted to $121,735,122, compared
with $97426,1 46 during the cor
responding period last year, an in
crease of Is per cent, Gerard Swope.
president, reports.
Profit available for common stock
for the first nine months of this
year was $11,714,247, compared with
$685., 600 for the first nine months
of last year. This profit is equiva-
lent to Al cents share for the first
nine months of 1884 and "a cents a
share for the first nine months of
1888, on 28,845 1927 shares outstand-
ing in both periods.
Dividends declared for nine
months this year amount to 45
cents a share, compared with 80
cents share for the corresponding
period last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
GOLD PRODUCTION UP,
August Output in Canada Totals
264,870 Ounces.

o FHtFF = VFtIUI
OTTAWA, Oct. 22.-Gold produce
ton in Canada during August in
creased to 264,S70 ounces, bringing
the months output to the highest
figure since June, 1882.
The total compares with 245,516
ounces in July and 257 .607 in August
last year. Output for the first eight
months Of the current year amount
ed to 1874, 1876, of IT per cent from
last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Other livestock
,Bv United Press

BY United Press ..
a. GdlCAG 1S}adn Get 10000 drest
above 200 lbs. fully steady with Fridays
average; others steady to Csc lower pack
22o-2lo lbs. 5.55a5s5; early top. $685.:
$40 bulk poac ,sd sows s. 25 o5o; so;
E2 s 1890 sh6 6 cn Sood
and choice. s5.65G5e5; heavyveights
2soi35o lbs so9a aHd fRoice $500 %: "a
choice. s435G5.65: slaughter pigs lOO-l3O
lbs. good and choice. So 1 p. Cattle
Receipts. 1000 eommercial 5000 govern
ment: calves. 5000 commercial, 1000 gov
eminent: few early sales and most bids
on Slow market: hardly enough done on
lower grades to make market. such kinds
predominating and undertone weak; early
top fed steers. 50 Is; but losd or SO con-
fdently held around So other killing
heifers scarce, about steady; bulls strong;
veslers. s6d7: SLAUGHTER cattle and veal
ers: steers. $4,000 lbs. good and choice.
s cRi3ss . ss2s IS: soo-j 500 i0s. 5000
and medium, s275a7: heifers, 55o-75O lbs.
good and CHOICE. 5Gs: common and me
dunn. s275g 525: cows good, 50 Is q AIS;
ter and cutter cows. s2d27s; bulls year
common and medium. s2G 3-25; veaiers.
e egfI and md common saas: stocEer and
feeder cattle: Steers. 550-l $50 lbs. good
ard choice. s425d57s. common and me-
dunn. 50 I5d4-25. Sheep-Receipts; 10 600:
steady to strong; best lambs held So $50
Go and up; most early bids under SIS 50
sheep steady: feeding lambs firm despite
increased supply. SIS IS Of slaughter sheep
and lambs: lambs go lbs. down. good and
choice. S6i5G 6.e5; common and medium.
s535d625: ewes 90-l5O lbs. good and
choice. Sl65d2sS: all weights. common
and medium. 81 50al so. feeding lambs,
50-75 lbs. good and choice, $3.50 sis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22

terms-in which
event it will be of
little value - it
may need all of
t h e marines to
protect it against
the avalanche of
criticism W hic h
will be directed
against it by in
dustrialists, bank
erS, economists,
farmers and prob
ably even t h e
clergy from all
parts of h e
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
UNION CARBIDE co.
EARNINGS SHOW DIP
Third Quarter Income Nets As
Cents Against 81 Cents in 1888.

Third Quarter Income Nets As
Cents Against 81 Cents in 1888.
81 Times Special
NEW YORK, Oct. 22.-Third
quarter consolidated earnings of the
Union Carbide and Carbon Corpo-
ration amounted to S4.352. l56, equal
to 4S cents a share on the 9.0O0.743
shares of capital stock, company
officials announced.
These figures compare with S4,77e,-
sos. or SO cents a share. in the sec
ond quarter of this year. and with
81 SOB .66S, or 81 cents a share. in the
third quarter of 1888.
Earnings for the nine months
ended Sept. 80 on consolidated net
earnings were S13.469 900. equal to
sI.4e a share on the 9,000,743 shares
If capital stock, compared TO
IS. 9O4. S73. or 90 cents a share. in
he corresponding period Of 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
SILVER TRADING STARTS
Futures Dealings Inaugurated in
Montreal Market.
By United Press


MONTREAL, Quebec, Oct. GA
commodity market, primarily de-
signed for trading in silver futures,
opened for business here today. The
market, known as the Canadian
Commodity Exchange, provides the
first facilities for trading in silver
since trading was suspended in New
York early last August after the
United States naturalization of the
metal.
The market commenced oper-
ations with a total membership Of
about 225, located in Liverpool,
Paris, Bombay, Hong Kong. Shang-
hal, Salt Lake City. Buffalo, Phila-
delphia, New York, Vancouver, To-
ronto and Montreal.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
CLAY JOINS BROOKMIRE

By imcs Spcctai
NEW YORK, Oct. Paul CLAY.
widely known economist. public
speaker and valuation expert. has
become associated with Brookmires
where he viii serve as editor of
Brookmire bulletins. a service estab-
lished in 1909. Mr. Clay is best
known as a student Of investment
problems and has served as fnan-
cial advisor 70 many corporations
and business executives.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
FRUITS AND VEGETABLES

tBv United PreSsl
Mcintosh tof2 rs-in Enc sis6gi75 6ushei'
Jonathan. 81 IS hushel. Sweet Potatoes
Tennessee, S5G95c bushel Lettuce-Calo-
fornia s263 crate abbage-Wisconsin
soc crate. few higher. Peppers-Ilinois.
10 a soc bushel: Tennessee. 50d SOC bushel.
Observation-Disclosures. goa Csc bushel Celery
Michigan squares. 400 soc crate fats,
IS a SOC Caulihower-Oregon. sl.l5G l. Is
crate: Michigan, slal25. Grapes-Mchl-
fsc. Cranberries-Massa chusetts. s275
ouarter-barrel. Spinach-Missouri, 40sI SOC
bushel, Illinois, 40G soc bushel Carrots
Illinois. SOC bushel; Tag g BUNCH. Celery
BeetEnlinois and Indiana. ic bunch.
Onions-nlinois green 6dsc bunch; 50-lb.
sacks. Michigan vellows. e0d poe: Idaho
vellovs e0c ISL; Indiana and Illinois yell
lows. SOC 75c; Michigan whites. sl.loG
A.lA oh-aeagu
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Wall Street
.Wet,sl Market Bureau, Inc.
by RALPH HENDERSON,,
Times Special Writer.

NEW YORK, Oct. 22.-Washing-
~ ton advices state that the
federal trade commission may at
tempt to define the term fair
profits" in it's next report to Presi-
dent Roosevelt. 1t will be entitled
to a congressional medal for I'M
usual bravery if it does. And if it
does not make the definition in the
broadcast and most noncommittal
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
GRAHAM PAIGE NETS
$21,852 IN 9 MONTHS
Third Quarter Earnings Amount to
Only S1,847.

By Times Special
DETROIT, Oct. 22.-Net profit Of
the Graham-Paige Corporation dur
ing the first nine months Of the cur
rent year amounted to 21,852 after
depreciation and all other charges,
according to a report today.
This compared with a net profit
of S145 934 for the same period Of
1888 Third quarter earnings for
the present year rotaled SLAB,
against s122,306 in the same period
last year.
The profit for the first nine
months represented 14,539 units sold,
and the profits for the same period
in 1893 represented 10,024 units sold.
the report stated.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
METTEN NAMED PRESIDENT

bV TNIt8 HpFtTIE
NEW YORK, Oct. 22-Directors
Of the New York Shipbuilding Cor
poration at a recent meeting elect
ed J. S. Metten president. He sue
ceeds c. L. Bardo, who resigned. L.
B. Manning was elected chairman
Of the board. filling the vacancy Of
z. L. Cord.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
COAL OUTPUT HIGHER
By 7 imes Special

BOSTON, Oct. 22.-September
production of the Island Creek Coal
Company was 277.807 tons, COM
pared with 245768 in August and
376 1852 in the ike 1888 week. it was
announced. The Pond Greek Poca-
hontas Coal Company mined 1872
TAB tons, against 120.674 and no.
925 tons, respectively.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
NET EARNINGS HIGHER
Household Finance Firm Reports
Income at S2.769.6iS.

Income at S2.769.6iS.
CHICAGO. Oct. 22.-Net income
Of the Household Finance Company
during the first nine months Of the
current year amounted TO S2.769.-
.6l3. as compared with S2,734,366 in
the corresponding period of 1888.
Dividend payments during the
period amounted 10 Sl.9l4.748. leav-
ing SSl4S65 which was added TO
surplus. which at the end Of the
period totaled S465l .265.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22

During 1893 there was very lit

During 1888 there was very little
relative change in financial items.
SURPRISES dropped about s22,O00,OO0
during the year, cash increased
nearly S6,000,O00 and net working
capital at the end Of the year was
SO, 727, SAP, a drop Of about S11,090,-
600. There will be no large bond
maturities for several years.
Since 1882 the Southern Pacific
system has operated 'in the red"
In 1888 there was a deficit on The
common stock Of S132 and a SIS
cent deficit in the first six months
of this year. While fixed charges
were earned 123 times in 1881, they
we're earned only 032 times in 1892
and 0.84 times in 1893.
From 1908 through 1881 the stock
was on a S. annual dividend basis
In 1882 only 81 was paid with no
dividend since.
The Southern Pacific railroad was
chartered in 1884 in Kentucky. Com
mon stock is listed on the New York
and London Stock Exchanges. 1t is
currently selling at around 1875.
(AII Rights Reserved. winchester Institute
Of Finance. Winchester MaSs.g
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Retail Coal Prices
DOMESTIC RETAIL PRICES

The following prices represent quotations
from leading Indianapolis coal dealers
A Ascent carving charge Der ton will be
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Money and Exchange

INDIANAPOLIS STATEMENT
ClearinCs Observation-Disclosures 755. 900 90
Debts Observation-Disclosures. 4.5l8. 900 90
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Working Hours Cut

Another important announcement
from the nations capital is embod-
led in the reisSuance of the execu-
tive order cutting hours to thirty-six
a week and raising wage rates in the
cotton garment industry. There is
no question but that the industry
opposes the order now as much as
it did when it was first proposed in
September. Labor thinks it will
mean the employment OF some
10000 additional workers; retailers
look for a 10 per cent increase in
prices and a possible curtailment in
sales volume.
The subject of hours reduction
found a prominent place on the list
of resolutions of the American Fed
Grafton of Labor convention. The
federation aims to push the thirty
hour bill in the next session in an
effort to solve the unemployment
problem. admittedly serious. The
chief questions is whether this
means will secure the ends hoped
Business Week, however, on the
basis of its own calculations. points
out that the thirty-hour week is not
a remedy for the present unemplOy-
meht problems. It calls attention to
$500. 900 wage earners now employed
IN the manufacturing industries,
where the federation has been di-
recting its heaviest blows, who. on
the basis of the July volume of
production, were working an aver
age of only 1914 hours.
Production Rise Seen
To reduce these hours to thirty,
according to the publications cal
culations, would require an addi-
tional force of less than 100000, only
about third of the unemployed
manufacturing wage earnerS. These
computations" the magazine adds,
take no account of any practical
difficulties that might arise in the
arbitrary reduction of hours to cut
this figure.
Even the inclusion of some eleven
industries outside of manufacturing,
which employed 100000 in 1929 and
5.500000 last July, where the pros
poets of spreading work are bright
err. does not offer the possibility of
any major transcription of workers.
according to the weekly.
Tho cOr,,I,iYad increases in pO0-
ployment possible under this scheme
would still be inadequate. the pub
hCauOn asserts. The saner method.
also somewhat inconsistency held
by the federation. it adds. calls for
a greater total output of goods. The
thirty-hour week applied through
out all industry would not result in
reproducing even the 1929 volume of
production.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
LOCAL CASH MARKET

City grain elevators are paying rs cents
for No. soft red wheat. Other grades
on their merits. Cash corn No. , yellow
6s cents. and oats - cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Chicago Futures Range
WHEAT
Treasury Statement


by United Press
expenses and receipts for the current rs
cal year to Oct. 49, compared with the
corresponding period Of the previous fiscal
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
Stock Studies
SOUTHERN PACIFIC
<~AnANAf eT@rN

The Southern Pacific Railroad IS
holding company directly controll-
ing a railroad system of 1892 miles.
The Southern Pacific extends along
the West Coast into Mexico and
westward through Texas to New Or
leans.
The Southern Pacific Steamship
Lines operate between Gulf ports
and New York City and other At
lantic ports. Freight is well DIVERSE
fed, "a per cent consisting of manu-
featured goods, % per cent agricul-
tural, % per cent mining and II
per cent forest products.
FINANCIAL DATA
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22
BUSINESS SEEN
CONFUSED OVER
FUTURE PLANS
NeW-DeaIerS Not Satisfied
With Current Price
Levels.

tH fHfa FpfCi1t
NEW YORK. Oct. 22.-Business
again turned to Washington last
week for clews to future policies,
but came away somewhat confused,
according to Business Week.
The first impressions of the
Presidents talk with reporters" the
publication says. were that the ad-
ministration was not yet satisfied
with the current price level, that it
favored further increases.
The stock market responded with
improved activity; cotton cloth buy
ers poured in orders amounting to
twenty million yards in one of the
most impressive trading days in
months.
However" the report continues.
imitation talk was rudely inter-
rupted when Washington shifted the
emphasis to the Importance of keep
ing commodity prices in balance on
any rise, warned that wide fiuctua-
tons Of prices should be curbed; in
dicated- that dollar manipulation is
10 be held in reserve.
To accentuate the initiation de-
mails, the treasury announced a call
for redemption of nearly S1,900000-
600 of Az per cent Liberty bonds
April IS for bonds bearing lower in
terest rates.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22

Dew lopm ents in
Trade and Industry
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-22

Latest Stock, Bond and
Commodity Quotations
The Omaha guide., 1934-10-13
THE BETHEL BAPTIST CHURCH
18th and I Streets
Rev. r. s. GoodIett-Acting Pastor
Mrs j. C. Collins. Jr.-Reporter

The Bethel Baptist Sunday
School convened at the usual hour
9:30 with the superintendent, II
C. Gaines on hand, and a very
nice hour of study was experienc.
ed from Fellowship with Christ
Our worship hour was enjoyed
with Rev. Mr.. White, from Isaiah
IS, from which his topic Of dis
cuSsiOn was taken.
Our E. Y. P. U. hour was
very happy and enjoyable one al
6:30 o'clock, with our ardent
president, Mr.. Joshua Henderson,
presiding.
AT s o'clock our acting pastor,
Rev. F. 5 Goodlett, brought us
a very inspiring and encouraging
message from Luke 6 :48; the sub
ject Of which was 1.-The Contrary
Winds" All present appreciat-
ed the message to the highest.
Visitors and friends are always
welcomed at the Bethel Baptist
Church.
The Omaha guide., 1934-10-13
LO0kIhG BACK
(The Child That VIII Not Lie)
By Videtta Ish

For the Literary Service Burean)
Not long ago I heard a mother
declare, MY child viii not tell
q lie; | believe whatever she tells
me This was said in the pres
ence of the child in question, and
that child knows the mother was
telling a lie. In the history of man
kind there lived only one child
that never told a lie, and that was
the Christ child.
Parents of other days knew their
children were fallible; knew they
would tell lies and did not deny
1T They corrected, scolded, sham
ed and punished us, but they
never made us paragons of truth.
II children take such a declara-
ton seriously they become care
less In their conduct. They even
say, mo use to tell Mamma any-
thing on me, cause she will be-
Aeve men when / tell her it ism
true" Ii the child believes the
mother to be fabricating there vii
De loss Of faith in and respect fol
the mother. Foolish, nischieyious
and dangerous this expression
mothers
The Omaha guide., 1934-10-13
ST. BENEDICT'S
PARISH NEWS

The girls Sodality, and the
Altar-Boys Society, received com
Iaunion last Sunday for the inten-
ton Of he health Of Father DAILY,
who is seriously ILL.,
He returned to the hospital
last Tuesday afternoon, suffering
q relapse. His condition at this
time is considered grave. His rel
aives from EDS MONIES, Ia, Wis
Iited him at St. Josephs Hopital
last Thursday, and returned to
Des Moines that evening. Com
pany is not being admitted. A
report Of bis condition may be OBJ
tanned by calling the hospital.
The membership party for the
?. 7. a., viii be given Thursday,
Oct. 18th, all parents and frietnds
are expected.
Our October Rummage Sale will
open next Friday morning, at TOO
o'cl0ck, and continue at intervals
through the remainder of the
month. Contributions are accept
ell at all times. Call We. 1923.
The Study Club is sponsoring
q series Of monthly card parties,
given the last Tuesday Of every
lionth, owing to the popular de-
p end Of those who attended the
inst one.
The Altar Society is offering an
Unusual attractive assortment of
Christmas greeting cards, for the
convenience OF their many friends
and benefactors. We will be glad
to show you these cards at your
convenience. They are beautiful
and inexpensive.