davidaulloa/AmericanStories huggingface dataset:
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

THE CHRISTIAN CHURCH Is
being invaded by religious racke-
teers who are preying upon the
superstition of the people.
These wolves In sleeps clothing
spring up like mushrooms. They
rake in the pennies Of the ignorant
poor by the skovels full. They put
on the stunts Of circus acrobat
while their congregation roll on
the floor.
These question: BILE bishops and
"Messiahs" appeal to the worst in
human nature. Tkey make moe
kerry Of the Christian religion.
The church can perform no grea-
ter service to itself and Christian
ity than to clear out the religious
racketeers who infest most large
cities at the present time with all
types Of fool docti ines which have
pothing to do with she religion Of
Jesus Christ
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

CANDIDATES TRY
TO GUST DEPRIEST

CHICAGO-Expressing a belief
that he can win the nomination as
Democratic candidate for repre-
sentative in Congress from the LIST
Illinois district with hands down"
Arthur w. Mitchell, Chicago attor-
ney, interviewed by an AMP rep
resentative last week, made known
his determination to defeat Repre-
sentative Oscar DePriest in the
Fall election.
Mitchell's confidence is strength
ened by the fact that he has the
Democratic machine in Chicago be-
hind him; the first time Democrat
ic party support from the Mayor
down has been accorded a colored
candidate for Congress.
The following candidates are in
the race for the first district seat:
Oscar DePriest, (R); Chandler O.
wen, (R); Edgar G. Brown, CD;
and Arthur w. Mitchell, (D).
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

Editorial
[NRA DISCRIMINATION

LAST WEEK while hundreds Of
industrial and business leaders
wore presenting their complaints
to Director of the MIRA Johnson,
q lone colored American presented
the case of the group which has
the most cause for complaint ag-
ainst the National Recovery Adj
miniatration.
John P. Davis, Executive Secre-
tary OF the Joint Committee on
National Recovery, an almost I'M
known young lawyer. has taken it
upon himself to battle untiringly
for square deal for colored wor-
kers under the MIRA.
FEARLEssLY he has tackled
one Of the most important prob
lens which confronts colored AM
orleans today-a chance to work
at living wage. With little mo-
ney he has gone into the South
and dug up gross discrimination
against colored workers He has
turned the spotlight on the wage
differential which pays lower
wage to coIored workers than to
white for the same type of work.
LOGICALLY he has analysed
the attitude of administration Of
ficials toward workers of color.
Tirelessly he has compiled Stats
tics to confound those who would
deny colored people a square deal.
So far as we know his was the
only voice raised, at the confer
erce to hear complaints under the
MIRA codes. which protested ag-
ainst the unfair treatment Of coli
ored workers.
THE TWENTY EIGHT organi-
cations whs1h make up the Joint
COMMITTEES for National Recovery
and the colored citizens Of Afneri-
ca should be proud of this advo-
cate fighting for square deal UNI
der the new deal. And what is
more important his hands should
be sufficiently strengthened so as
to make failure impossible as lie
continues to work for justice for
colored workers everywhere
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22
Clarence barrow Says Negro
HAS Too Much Religion =

WASEIINGTON-"To TOO much re-
ligion has hurt TIE colored man, F"
said Clarence barrow, when inter-
viewed by an AMP reporter at the
Willard Hotel, here Friday.
The famous lawyer, here to head
the new MIRA code review commit
tee. spared no words in making it
clear that he felt that much of the
emphasis Of the colored people is
being put In the wrong place.
Buy Too Many Churches
Instead Of trying 70 buy or
build so many church buildings,
and raising large sums of money
for the purpose of carrying on the
work of God" he said, they ought
to put just half into education and
travel, getting home, and a place
to live that the problems of life
could be thought out with comfort.
Too much religion has hurt the
colored man"
When asked if he thought the
colored man would ever get fair
play in America, Mr.. barrow ans
wered:
Fair play is just as close as the
colored man feels it is. If he fights
right, with the help of education,
he viii get fair play"
What have you to say about
the public hearings, and the speech
of John P. Davis, Mr.. Darrow," he
was asked.
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

editorials. Her many "ofay" In
reviewers were startled and am
azed to find her living In a one
room apartment of the Champion
Hotel, located in the very heart Of
Harlem. At that time, Miss Cum
ard promised to startle the press
with her findings on the Negro, ac-
companied by colored man, and
bound for the islands in search CT
more material for her present bc14x
the Negro"
Miss Cunard, who says: II in
tend to devote the rest of my life
to the Negro race" has completely
eschewed her Mayfair friends and
is now living in an obscure flat off
Tottenham Court Road, London.
Just before the book was due to
appear, she left for the country,
leaving no address.
1t was after she met Henry
Crowder, the American composer
and her first Negro friend, four
years ago, that she became the
defender of his people,
and decided to devote her energies
to raising the color bar.
The London press IN its COM
ment on the Negro" is more than
liberal with pictures illustrating
their stories and poses Of Miss Gu
nard dancing with colored guests
at her recent London party given
In their honor.
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

II have this to say he replied,
the speech was filled with facts
already known to the South, mere
facts Of discrimination and not the
facts of discrimination under the
MIRA CODE.
Aim at Fair Play
When the question OF the extent
to which the committee would go
into the complaints was asked, Mr..
barrow, in quick, sharp tones, said
we viii go to the fullest extent
to see that a fair play is given TO
all alike. The question of wages
in the North and South where coll
ored men are affected, or the code
has been violated, those cases VIII
be taken up just as fast as they
reach the comrnittee.p
Davis Raps DsSrow
Replying to Darrow's criticism
of his MIRA speech, John P. Davis
told the AMP this week:
mr.. barrow has been wrestling
with the problems of the MIRA for
a few short days. I have spent
eight and one-half months on these
same problems.
"Mr. Darrow's comment seems
to imply that he doesn't believe
that there is any such thing as a
'colored' differential.
My advice to him is that he
study the transcripts of records of
code hearings and the reports of
government economists,
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22
Whites Sue Oakland
Negro Physicians

OAKLAND, Calif.-( ANP)-Dr.
G. Roy Busch and DR.. o. w. De-
Vaughn, Negro physicians, have
been made defendants in a suit for
$15O,000 by william Fernandez,
white, following the death of the
latter's wife who had been under
the care of the two physicians.
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22
Watch En-

We picked some good ones last
week. Among the winners we gave
you were AHprehensiVe, $17.7O, So
80, $3.40; Blast, $500, $3.50, $500;
and Eisenberg, $3.50, S3.4O, $500.
Chatter On placed at $3.50 while
spud was third. Judge Primrose
Brass Monkey Periodical, Polly's
Folly and Pat C also ran. Totem,
Gift of Roses. Vera crofton, Port
iodine did not enter.
Here are some horses now at top
form that should finish in the mo-
ney next time out.
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

CONTINUED on Page Three)
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1934-03-22

lcontlnued on Pace Threel
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
TRADE VOLUME
SHOWING GAINS
A. F. of L. Reports Better
Business, but Cautious
ness Toward Rise.
By United Press

By United Press
WASHINGTON, Nov. 2O.-The
American Federation of Labor today
reported better business but indi-
Gated cautious attitude toward i'm
provement in business sentiment. y
Other reports indicated serious labor
controversies remain close under the
surface.
The federations monthly bulletin
declares it could not forecast how
far improvement in sentiment will
succeed in stimulating business"
However it noted upturns in soft
coal, steel, electric power, textiles,
and building construction and de-
clared the business world in bet
ter position to go ahead than at this
time last year.
THE strong wine of business OPP
timism," the report said, may
stimulate industry to action again,
but production and employment can
not go on increasing unless steady
increase in workers buying power
creates a growing market for goods. r"
The federation emphasized that
little progress had been made toward
the goal of the NRA to increased
consumption through increased pur-
chasing power. Actual purchasing
power of the average workers wage
fell slightly from September, 1888,
to September, 1884, it was noted.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
PORKERS MOVE
DOWN Is CENTS
Finished Steers Unchanged,
Other Cattle Tending
Lower.

Porker prices at the local stock
yards this morning were around Is
cents lower than yesterdays weak
average as a result of extremely
heavy supplies on hand during the
last two sessions.
Receipts at the yards today were
estimated at 1000, while yester-
days figures amounted to $4,000
The bulk, $50 to 200 pounds. was
selling at $3.50 to $5.35. Holdovers
amounted to 891.
Extremely heavyweights, scaling
from 200 to $50 pounds, sold at $40
to S5.75, while few better grades
were salable at $3.50. Light lights,
weighing 100 to $50 pounds, brought
$685. to $3.50. Others weighing 100
to 100 pounds, sold at $3.50 to $3.50
Packing sowS cashed in at $4.75 to
S5.35.
Early trading turned dull in the
cattle market, with sales on finished
steers fully stationary. Other steers
and heiferS were tending slight
ly lower than the previous close.
Cows showed little change. Re-
ceipts numbered 1900. Vealers
again were so cents lower, selling at
mostly Sc down. Receipts were 600.
A steady trading range featured
the lamb market, with the ma jority
of classes salable at $3.50 down. Ex-
tremely heavy grades ranged from
S. to $3.50. Fat ewes sold at SO
down, while throwouts brought So so
to $3.50. Receipts we're 1900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
FRACTIONS UP
ON BIG BOARD
Utility Issues Steady After
Meeting New Selling in
Early Deals.
By United Press

NEW YORK, Nov. 2O.-Local trac-
ton issues and few special stocks
advanced in the morning dealings
on the Stock Exchange today while
the remainder of the market was
slightly under the previous close in
lighter dealings.
Advances in the fractions amount
ed to more than points in the case
of BrooklynM Manhattan Transit,
which was reported to have arrived
at an agreement on unifcation.
marlborough Rapid Transit reached
1412, up IL, and Manhattan Rail-
way Is, up 21s.
Utilities met further selling for a
time with the leaders making new
lows. They steadied later when
American Telephone met additional
support and rose to 1895, up l
point.
United States Steel, Allied Chem
ical, American Can, the leading mo-
tor shares and some of the aviation
shares declined fractions to more
than point.
Among issues to show gains were
U. S. Gypsum, Owens Illinois Glass,
Colgate, Palmolive, Peet preferred
and Eastman preferred.
Associated Dry Goods issues
scared on the $50 extra dividend de-
clared by its subsidiary, Lord &
Taylor. The common stock reached
1872, up IL; LIST preferred, IS, up 8,
and End preferred 50, up Ga.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
Produce Markets

Delivered in Indianapolis prices: Heavy
hens. lie: Leghoru hens 7c: colored
Springers. i2c. old roosters. &c: ducks. &c;
geese. &c; Young guineas. zoe; old guineas.
i5c. Turkevs-No. l Young hens. lbs
and over 15c: young toms. Il lbs. and
over. l5c; young toms. ll-ls lbs. 13c: No.
?. crooked breasts and thin turkeys. &C.
old toms. all weights l2c. No. ] strictly
fresh country run eggs. loss on. 26c
Each fun case must weigh SIS lbs. gross;
a deduction Of i0c pound for each
pound under SIS lbs. will be made. Butter
No. l. 30d3ic. Butterfat-26c. Quoted BY
the Wadlev Comnauv
by United Pressl
CHICAGO. Nov. 20.-EggS -Market, I'M
settled: receipts l.l04 cases; extra firsts
soc. fresh graded frsts. 27i7c: current re-
ceipts 24N 26c, dirties No. l, 90 &C; No.
? l6c; checks No. /. l9 &C; No. 2. l6c.
Bu,ter-Msrket. unsettled. receipts, II $50
tubs: extra frsts t90-9i &C score. 26' "a
g &C: extras s,s2 score. 29c; firsts 49,
scorel. 24i7H25c; specials. 299a n &C;
standards 267sc Poultry-Market Un-
settled receipts So trucks / car. 1 car
due. Springers. i3Gl6c. Leghorn hens. l0c:
ducks liG i3c: geese. lie: turkeys. l4d
iec. ROSTERS old. i0c: Leghorn springers
lie. I'M light II &C. heavy. l3i2c, caponS.
s 70 lbs l7IlSc Cheese-Twins. l334
isc. daisies. a. dl4isc: Longhorns. l4i4 a
l4tsc Potatoes-Supplv liberal: demand
and trading slow: market. dull: Wisconsin
Round Whites s0m So &C. Idaho RusSets,
81 asa I so Washington RuSsets. combina-
tion grade 81 so. Michigan Round Whites.
soc Arrivals So on track 265. shipments
$50
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
Other livestock
Try limited Press

LAFAYETTE. Nov. 20.-Market. l0G 2oc
lower. 260-S0O lbs SIS 7oG s. 80; 300-S25
lbs. IS so: 23O-260 lbs. s5.55d SIS. 2l0-230
lbs. IS 40a $50; lso-210 lbs. s52Od 80;
l70-lsO lbs. s5d5lo: l6o-i7o lbs. $3.50
pigs $3.50 down. roughs. s5,25 down.
Calves soc lower; IS down: lambs steady,
" Fl. WAYNE. Nov. o-Hogs-Market
l5c lower: 25O-3o0 lbs. IS so: 225250 lbs,
i6O-is0 lbs. 81 90: 300-350 lbs. s5.I5. i50-
100 lbs. s4s5; l4o-l50 lbs. S4.l0: 1907 30
lbs So so: l20-l30 lbs. s2.l0: l00-l20 lbs.
s2.eo; roughs. s4.75; stays. So. Calves. Sc.
Lambs S.
by Times Specain
LOUISVILLE. Nov. 2O-Cattle-Receip
commercial $50. government; supply light;
quality plain. market SLOW. about STEADY;
bulk common 70 medium steers and
heifers. IS 25d450: better finished scarce,
ouotable to around Sc: bulk beef cows.
50 25m5: low cutters and cutter cows. 81
2. sausage bulls. 81 IS down; most beef
type stock calves Salable 81 500 ); common
70 medium stockers and feeders. 81. 75M
375 Calves-Receipts. 200. market steady.
bulk better vealers. s450d 5; few strictly
choice IS so: medium and lower grades.
81 down Hogs-Receipts. 500; market
mostly soc lower: some unsolo anc held
higher: top and bulk 200-300 lbs. 1855,
is0-ls5 lbs. s5I5: 305 lbs. up. $50. 100
Us lbs Sass. i45-i55 lbs. 81 05. l00-i35
lbs. 1855: sows. 81 20. Sheep-Receipts
100. generallv steady. bulk medium 70 good
lambs. IS 5od 6: choice eligible higher
bucks discounted 81; most light throwouts
So so. better fat ewes. 81 50N2.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
TOLEDO BONOH0LDERS
AGREEMENT ENTERED
New Move Provides for Refunding
Of All Unpaid Issues.


NEW YORK. Nov. 2O.-An agree
ment providing for the refunding
Of all unpaid bonds matured or ma
turing during 1933-S4. has been
entered between the City Of Toledo
and the committee Of bondholders
of that city. according 10 Philip A.
Benson. president Of the Brooklyn
Dime Savings Bank. and chairman
OF the bondholderS committee.
The agreement also provides Tor
the payment OF all unpaid interest.
with a special fund having been set
aside by the city for such purpose.
The announcement came after
numerous conferences between rep
reSentatives Of the city and OF the
bondholders committee.
The committee states that 1t has
been concerned as much as 70 the
stability Of the entire S21OOOOOO
bonded Indebtedness as 1t has about
the immediate problem Of refunding
the 1854 maturities." The pro-
visions Of the agreement are de-
signed to efectuate that purpose.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
FRUITS AND VEGETABLES
nv United Press

CHICAGO. Nov s0-Apples-Michigan
Mcintosh bushels, pa inch. s175G2; Jona-
thsns. sl50Gl.7s. Lettuce-California
crates s2m275 Sweet potatoes-Tennes-
see bushels SiHi.i0. Cslery-MIchigan
crates 4Od soc. oregon caulifower crates,
9OcdSll5. Spinach-Missouri bushels 40
q 6Oc OBSERVATION-DISCLOSURES u bar
rels. So 5Od375; few So Carrots-Illi-
nois bushels asa Soc punches. 1T2e.
Celery-cs age-Michiga fiat crates. 35n
40c BeetS-Indiana and Illinois punches.
s.Tlizc Onions-Illinois green punches,
5Tsc Onion market f50-lb. sacks
Michigan yellovs. 50cHSi: Michigan
whites. s5cdsl25; western yellows. 90e9
81; Illinois and Indiana yellows, 5o660c.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
STEEL OUTPUT HIGHER
Current Weeks Rate Is Highest
Since July %.

BIZ Htft1 fffss
NEW YORK. Nov. 20 The steel
Industry IS operating today at ZIG
per cent. the highest rate since July
"a. and a gain Of O.S points. or IL
per cent. from the level Of 27-S per
cent shown a week ago. the Amer
lean Iron and Steel Institute re-
ported today.
Current operations came within q
narrow fraction Of eQualing the
July q mark Of 277 per cent. A
month ago. the industry was oper-
ating al 23e per cent. while opera
tons in the corresponding week OF
1888 averaged 26s per cent Of ca
pacity.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
WHEAT OPENS OFF,
OTHER GRAINS RISE
Weakness Abroad Causes
Dip in Major Staple.
BIZ United Press

CHICAGO, Nov. 20.-Weakness
abroad brought selling into wheat
futures on the Board of Trade to-
day, but other grains showed indie
pendent strength.
Wheat started unchanged to a
cent lower; corn was unchanged to
up % cent; oats was up y to 4
cent net; rye was unchanged to up
4 cent, and barley was off a cent.
Liverpool wheat started lower and
the easier feeling sifted through to
the local pits. A strong cash sit
uation induced further buying Of
corn futures and new highs again
were touched, despite sales for profit.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
MARKETINGS SHOWN
By Times Special


LOS ANGELES, Nov. 20.-Show-
ing substantial progress toward
recovery" the California and Arizona
citrus industry marketed 77,4l6 cars
of oranges, lemons and grapefruit
for an (. o. b. return of these states
of 500. IT'S 900 during the year ended
Oct. 81, according 10 the annual re-
port of the California Fruit Grow
ers Exchange.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20

Quotations below are average wholesale
prices being offered to buyers by local
commission dealers.
FRUITs-Cranberries. Cape Cod. early
blacks. 25-lb. box. s3.75; Wisconsin. Ant
lers. 25-lb. box. 81. Grapes, California
Emperors, 27-lb. box s2.15. Persimmons,
Indiana. II pts. COO. Avacados, box, 81 rs.
ounces. bushel. 50. Bananas, pound. 4s4c.
Apples, maiden blush, sl50; 1ndian "a j9n "a
Melons. California honey dews. 81: rs.
Lemons. sunkist. 36os $3.50; red ball. 360s,
IS Grapefruit Florida. 70s-60s. $3.50.
Lines per carton. l2s, Csc; seedless per
hundred. So Strawberries u box crate.
s2.25G2,5O. California rhubarb, $3.50 box
vEGETABLES-Cano age. Northern Dan
Onions. Idaho sweet spanish, large 50-lb.,
81 40: Michigan yellow, med. l0-lb. bag.
23c; western white. 50-lb. bag $685. Michi-
gan. yellow. 81 .25. Potatoes, Green Noun
tains, ioo-lb. bag. 81 as northern round
81 IS; Idaho Russets. loO-lb. bag, 50. Sweet
potatoes. Indiana Jerseys. bushel. sl.65;
Tennessee Nancy Halls. bushel. $40
Beans. round stringless, hamper. 81. so
Beets. Texas. 3 doz. crate. $3.50. Carrots
homegrown. dozen. 35c. Caulifower, crate
sI.65; Celery. Michigan. medium. dozen
Cucumbers. dollhouse. dozen. sl.25: Endive.
dozen. 45c Egg plant, dozen. $50. Kale
homegrown. bushel. soc. Lettuce hot
house l5-lb. basket. 60c. Mangos. Florida
crate So so. Mint. bunch. l5c. Parsley
dozen. 35c. Peas-Hamper. s325a I
S sc. Rad hSnes dozen. SOC. tomatoes
dollhouse s-ib basket. sl25. Turnips
homegrown. dozen. 25c. Pumpkins, dozen
SIPS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
STOCK VALUES DECLINE

b. Iiwes Spfrt0i
NEW YORK. Nov. 20.-The mar
ket value OF fifty stocks listed on
the New York Stock Exchange at
the close OF business last week
amounted 70 sll.567 .060I25. a de-
crease Of s4o3. 746.s75. as compared
with the value at the close Of the
preceding week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
Commodity Prices
BY Fenner & Beanel-
NEW BUSINESS BOOKS
RECEIVED AT LIBRARY
The New Deal in Action" by
Schuyler c. Wallace, Now Available.

The New Deal in Action" by
Schuyler c. wallace. assistant pro-
feSsor of public law at Columbia
university. is now available in the
business branch Of the indianapolis
Public Library.
Freedom Versus Organization, =
by Bertrand Russell, has also been
received.
Other new arrivals are accident
means. by T. B. Cornelius; collapse
and recovery by James D. Magee
retail accounting by c. K. Lyons and
n. A. Brisco and Gauging Manual,
compiled by the United States In
dustrial Alcohol Bureau.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
FORD SALES SET PEAK

DEARBORN. Mich. Nov. 20.-Ford
dealers throughout the United States
sold at retail in october. the largest
volume OF Ford commercial units
for any October since 1880, 1t was
announced today at the offices Of
the Ford Motor Company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20
Yield at New Low

The S242 100000 rise in the long
term bonds has reduced their yield
to 306l per cent, a new post war
low, from 3.549 per cent year ago.
The bonds used in this compila-
ton represent only fifth of the
governments outstanding securities.
Many millions have been added to
the value of the others. Most of
them are short term securities. how
ever, and their advances naturally
have been less rapid.
Treasury officials were gratified
with the rise in market prices as
serving in part to refute reports
that recovery steps were impairing
the governments credit.
A number of special conditions,
however, were partly responsible for
the rise. Hundreds of millions of
dollars of government money was
used to support the market earlier
in the year, although S16000,00O of
the support" bonds were sold dur
| ing October. Another factor was
idle capital seeking a return in gov
eminent bonds when it could not
find profitable employment in bust
ness.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-20

Of eight or more years ma
turity rose to S5,194,132,296
on Nov. 16 from S4,952,119,-
178 on Nov. Is, 1888, an APP
probation of S242,013,118.
The sweeping rise reflected both
improving credit of the United
States and government steps to
bolster its own bond market which
we're carried on early this year.
More Funds Needed
This rise during a period marked
by currency initiation rumors and
continued unbalanced federal bud
get, both depressing factors, was
believed TO insure continued success
in borrowing new billions for re-
covery. About $4,000 100000 more is
to be borrowed to complete the re-
covery program. The fact that out
standing bonds are moving steadily
upward is expected to make it easier.
When the s4,6OO,OOO,O 900 additional
money is borrowed, the public debt
will be raised to the outside limit of
S31 1874 100000 set by President
Roosevelt in his last budget mes
sage. If that figure is reached, the
administration will likely take dras-
tic steps to balance the budget and
live within its income"
New borrowings are likely on Dec.
Is, when it may become necessary
to sell s5OO,OOO,OOO to $1,000, 100000
in new securities to replenish the
treasury'S dwindling working bal
ance of only S842, 875, 942. New
funds obtained in December would
carry the government aside from
short term financing, to about
March Is.
On Dec. IS, 1892, 100000 of short
term certificates fall due and must
be refunded.