davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
N. Y. CURB EXCHANGE
GIVES CHILDREN PARTY
Members Distribute Sweaters and
Shoes After Close.
By Enited Press

NEW YORK, Dec. %. - Santa
Claus will come to Wall Street again
this year, despite improbable oper-
ations Of many security houses in
the district.
Curb exchange members gave
their annual Christmas party to the
children after the market closed
yesterday. Each boy and girl was
given a sweater and an order for
pair of shoes.
The celebration was in a gaily
decorated room on the ground floor
of the exchange while a Christmas
tree was erected on the visitors gall
Iery. About $500 children attended.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
BANK CLEARINGS SOAR
IN Tfmes NpccinI

=
NEW YORK, Dec. 22-Banl
clearings are the highest for an
week in nearly three years. The to-
tai for the % leading cities for til
week ended Wednesday as report
by Dunn & Bradstreet, Inc, Vi
$3.50, $4,000, against S4,650,696
for the same week of last year
of 32.5 per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
CAR LOADINGS HIGHER
Increase of 2S,924 Units Reported in
Dec. Is Week.


WASHINGTON, Dec. 22.-The
Assn. of American Railroads an
nounced today that car loadings for
the week ended Dec. Is totalled
579.935 cars. 2S,924 cars above the
preceding week and 20,516 above the
corresponding week in 1888.
Miscellaneous freight totalled 1885,
S13 cars, 00S less than in the pre-
ceding week, but 3,496 above the cor
responding week last year. Mer-
chandise in less than carload lots
totalled 154,949 cars, decrease of
2,129 below the previous week and
4,764 below the same week in 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
FRUITS AND VEGETABLES

TbN UUIItU TIt0oT
CHICAGO. Dec. %. -Apples-Michigan
Mcintosh. bu.. S1.75M2; Jonathans, S1.50M
LIS. Beets-Illinois, bu., 35d 40c. Texas
crates, s125dI35 Beans-Florida, bu.
s2G4. aulif1ower-California. crates, sld
1925. Cranberries-Massach usetts, 4 bar
1904. Cabbage Wisconsin. crates. 4Od
Csc Spinach-Tennessee Texas Illinois
bu.. 50cdS1. Onion market t50-lb- sacks,
Michigan yellows, 75cG 81; western vel
lows. 85c6 s1.05; Illinois and Indiana yell
lows $685. Idaho whites, Sis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Other livestock

fBv Times Special
LOUISVILLE. Dec 22-Cattle. 15, mari
ket nominal compared week ago: Slaughter
classes closed 25c or more higher than lsat
Saturday. closing trade active; late bulk.
common 20 medium grade slaughter steers
and heifers - 5OG475 load or 50 heifers.
IS .50Q S: weeks TOP. SO paid for strictly
good l290-lb steers: closing bulk beef
cows. 81 25a2 .75; good kinds and smooth
heifer types eligible higher. loV cutters
and cutter COWS mostly sl@I75' sausage
bulls mostly 50 IS down. few 50. bulk bet
ter Hereford stock calves 81 SOFAS. Calves
$50: market steady. bulk better vealers.
- 500 $50. strictly choice. SIS medium
and lover grades 81 down; market closing
steady 10 SOC lower than last Saturday.
Hog-Receipts $50. market. l5n zoe
higher; most advance, on weights So from rom
ss,55. 2O0-225 lbs. $40. 305 lbs. up.
IS 10: 1so-l95 lbs. $3.50; 1eo-l75 lbs. IS Is:
l40-l55 lbs 81 IS. I20-l35 lbs. 1913; sovs.
$3.50; market closing unevenly Asa I0c
higher than last Saturday. Sheep-Re-
ceipts IS: market closing steady with last
Saturday: bulk medium 70 good lambs.
$3.50 625. choice TO around, 81 DUCKS
mostly s4.75ds.2S: common light throw
outs. 81; better fat ewes. sl.S022.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
NezU York Stocks

Sales today Appropriated 100000
shares. compared with 100000 shares
last Saturday.
Dow-JOnes preliminary closing
averages showed industrial 1913, off
OH: railroad 35.41, off OPS; utility
100, off O.O5.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Would Have Wide Powers

The corporation and its regional
boards would run" the railroads.
subject to the supervision of the
Secretary of transportation, who
could have the Interstate Commerce
Commission rule on any question.
The corporation would have power
to initiate and maintain rates, allow
pooling CT rates, provide for COM
mon use of equipment and termi-r
nalS, to reduce competition where
beneficial though in violation of
antitrust laws, to carry On negoti-
ations with labor, to reorganize or
effect capital readjuStment of roads
and to operate roads through such
periods without the expensive proc
eSS Of receivership.
1t also would lend money to en-
able them to compete efficiently, and
otherwise to formulate plans, in
conjunction with the Secretary Of
transportation, for the conSolida-
ton Of systems and to exercise gen.
orally these functions as we'll as CO.
ordinate the operation of the rail-
roads so that efficient, economical,
stabilized and profitable operations
may ensue.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Hides ard Skins

Hides-Green country COWS and steers.
3izc fat; green country bulls and CLUES
&c fat; green country calf hides 4izc:
horse hides with fun heads shanks. names
and tails. 50 so. medium size. 81 All No
grade horse hides. soc less: CLUES and
ponies half price No. / rendered talloW
4N4i2c: No at value Yellow grease
3H3i9c. dark crease 2i7H3c
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
NEW YORK CoTToNSEED OIL
SUGAR
BUTTER
OIL STOCKS REDUCED
By Times Special

WASHINGTON, Dec. 22-Stocks
Of domestic and foreign crude oil
totaled 324. $50 900 barrels on Dec.
Is, or 1,71o,000 barrels under the
preceding week, the Oil AdminiStra-
ton reports.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
PRINCE URGES
FEDERAL BODY
TO AID ROADS
Creation of Board Witt
Half Billion Capital
Suggested.

The following is the second Of series
Of six articles on "A New Deal for the
Railroads. written for The indianapolis
Times bv Theodore Prince. well-known
railroad authority.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
THE Illinois Supreme Court. in

THE Illinois Supreme Court. in
Il a reversal OF a lower court.
ruled that sale of electricity. gas
and water are not subject to the
= per cent sales levy Acreage
Sown to winter wheat this fall was
the largest in four years, accord
ing TO the Department of Agricul-
ture The widest gain in sew
eral years was reported by depart
mcnt stores in New York City in
the first half of December. The
Reconstruction Finance Corp. as
Sumed management of the Denver
& Salt Lake Railway, which has
received large loans from the Gov
eminent agency. Car loadingS
Spurted 2S924 cars last week to
make the best December week in the
last three years Issuance by
the Securities and Exchange Com
mission Of permanent registration
provisions drew the praise OF the
New York and Chicago Stock En-
changes. Christmas bonuses TO
employees Of corporations have been
at the largest rate in several years.
. This years combined spring
and fall pig crop is estimated at 35
per cent under year ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
CHICAGO PRIMARY RECEIPTS
LOCAL CASH MARKET

City grain elevators are paying 80 cents
for No. 2 soft red wheat. other grades
on their merits. Cash corn No. yellow
83 cents and oats 48 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
CARRIER PROFIT SEEN

d = 1 tWtc = ptttNt
NEW YORK, Dec. 22.-James B.
Hill. who recently was named presi-
dent of the Louisville e. Nashville
Railroad, today said he expected the
road to show a profit for the year
of between $2.5O0,O0O and $4,000, 900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
On Commission ROW

prices being offered to BUYERS BY BY local
commission dealers.
,,d Fruits ,5 cranberrisg cape God. late
forniGa EmperorS. 37-ib: box. s5.4O. Per
simmons, California 24s $l3S. Qui I3IHs
INDIANA dhe &c Jonath a 81 So Crimes Go 5s9
DeWs. $275. Lemons. sunkist 36Os. So so;
$50. Lines. Mexican. per carton. 12s 25c;
fornia rhubarb. $40 a box Pears. oregon
36s, $3.50; AIS. $3.50.
vegetables-Cabbage Northern Dan
iSh, sob bag, Soc red 597Ib o. bag 9Oc
$50: Michigan yellow. med. fO-lb. bag.
igan, yellow, s1.35. Potatoes. Green Noun
W ss looib b Dag sfio ohios i06b bag
s1,9O; Idaho oRussetS. 1oO-lb bag. 81. New
s5s ersevS 6ughe sTfe Tenne ie
stringless, hampers 81, Celery. Michigan.
Resr b9 q3cfn s25 c uc@mb ePzsn dozen
Egg plant $15oG2 dozen. Kaie Virginia,
basket 90c: California Iceberg head let
tuce IS. Mangoes. Florida, crate. SIS. Mint.
bunch. 75c. Parsley, dozen. 35c. Peas
least bushel 1925 Radishes. dozen. Use.
Tomatoes. dollhouse. Bib. basket. S1.35.
Turnips. home grown. dozen. Csc. Pump
for S1.5o: oysters Sstandaards. gallon s15O;
lon oos Sc. Back wa ii 5o-ib: bag. ST.
Cider. gallons to case. 81, Half-gaLonS,
to, case, s1.75; quarts II to case. 81 go
All quotations subject to change. up or
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Western Senators Aim
Congress Investigation
Into L. S. SiIUer MOUeS
Some Believe Treasury Has
Kept Policy in Too
Much Secrecy.
By United Press

By United Press
WASHINGTON, Dec. 22.-West-
ern senators talked today about
possible Congressional inquiry to
find out what the Treasury is do
ing about silver. Failure Of Secre-
tary Henry Morgenthau to enlighten
them as to the extent of the Treas
ury's operations toward nationalist
ton of silver prompted the talk of
an inquiry.
President Roosevelt last summer
ordered the Treasury to purchase
silver until the ratio to gold re-
serves was three to one. Silver bloc
senators want to know if that has
been done.
The study, it was understood,
would be undertaken with a view
of determining the effect of the sill
yer program on national and inter
national trade and on world
economic conditions.
Others Are Awaited
Capitalization of silver bloc senti-
ment awaited the arrival of others
interested in the metal. Those here
are divided on the subject of an
inquiry. Some feel the Treasury
has carried out the Presidents or
ders as far as is either wise or
possible.
Those inclined to be critical of
the Treasury base their dissatisfac-
ton chiefly on the belief that move
ments in silver have been shrouded
in too much secrecy. They'd like
a peep at the records.
Some Senators believe the pro-
posed inquiry will not ntterialize.
They point out that in the past the
bloc has been prevented from con-
certed action by internal differences,
which was particularly true of the
last Congress.
Information Needed
Several said they felt the Treas
ury should inform Congress as soon
as possible as to the extent the pur-
chase program has been carried out,
the effect of purchases on the eco
nomic situation, the price paid and
whether any sales have been made
to halt or slow down price increases.
Among those taking this view
were Senators Burton K Wheeler
Cd, Month, veteran leader of the
silver bloc; Pat McCarran Cd.
New, and Alva B. Adams Cd,
ColoD.
The silver bloc has interested it
self in finding out to what extent
the $4,000 100000 sterilization fund
was used n the market in carry
ing out the silver purchase program,
and to what extent purchases are
being made by Federal Reserve
Banks.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Retail Coal Prices
DOMESTIC RETAIL PRICES

The following prices represent quotations
from leading Indiana polls coal dealers
A 25-cent carrying charge per ton will be
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22

New York Threatens
Own Electric
Plant.
by VINCENT :. LYONS
Times Financial Editor

THE Federal Reserve Board and
Il the Federal Deposit Insurance
Corp. jointly announced that be-
ginning Feb. I. the maximum inter-
est payable on time and savings
deposits throughout the country
Will be reduced from 3 to 2fz per
cent. The NRA Labor Advisory
Board. which is headed by William
Green, president Of the American
Federation Of Labor, urged more
teeth IN NRA Current steel oper-
atiOns. according 10 the American
Iron & Steel Institute. are at 34.6
per cent, the best level since the
summer Rejecting the proceeds
from the bond sale, the Govern
ment's cash working balance on
Dec. IS rose from S729 .944,56 TO
81 SOP BAT 359 Total sales of Swift
d Co. for the fiscal year ended
oct. y, increased Sl19. 100000 over
the preceding year and the profit
was 5.25 per cent on the share
holders investment. Creation Of a
system Of unemployment insurance
under Government supervision will
be one Of the most important pieces
Of legislation coming up for study
az the next Congress. Senator Van
NuyS declared Frank NJ BelgranO
Jr., national commander, urges the
American Legion to obstruct any
move for a bonus march on the
Capital this year e.. Governor Nc
Nuts special committee on taxa
ton RS voted to recommend to the
1885 Legislature that moratorium
be declared on the sale of property
for delinquent taxes until July,
1887
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
STOCK DEALS
FEATURED BY
R. C. A. ACTIVITY
Common and Preferred 81
Account for 10 Per Cent
Of Trading.

MARKETS AT A GLANCE
Stacks dull and irregular.
Bonds Irregular; utilities steady.
Curb stocks quiet and mixed.
Chicago stocks dull and egUlar.
Dollar easier in sterling steady
n gold currencies.
Cotton steady at small gains.
Rubber off to up point.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
u. S. Bonds

tBv United Press
NEW YORK. Dec. 22.-Closine United
States Government bonds (decimals repre-
sent thirtN- SecOndSl.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Money and Exchange
INDIANAPOLIS STATEMENT
TREASURY STATEMENT

BY United Press
WASHINGTON Dec 22-Goverrment
expenses and receipts for the current
fiscal year 10 Dec 90, compared with the
corresponding period of the previous ifs
cal year.
This year Last year.
Expenses So 43a SIS. 266 So 50 373 29q. $50 %
ReceiptS l 1874 766. 1856 81 1924 74e. 906 90
Deficit / 644 sos $50 .o6 GAS SAC. $50 %
Cash bal. , $40 22S, 706 10 1919 972. 701. Is
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22

Home owners Loan Corp
IS Nav l. 1952-51 ......... 1916 SO 20
is july l. 1851 ............. 100.24 10028
Federal Farm Mortgage Corp
GAS March IS, l964-44 ..... 101.10 101 20
IS March /. 1924 ..... 1915 1919
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
Proposes 100000 Units

Shares of stock should be in units
of 100000 each par value. Each
railroad should vote for the "a di-
rectors of the corporation, and each
share of stock should have one vote
for one of the "a directors. Not less
than two-thirds of the directors
should be chosen from the execu-
tives of the railroads.
Labor should be represented by
four additional directors. All power
of the corporation should be vested
in these % directors, who would Sc
lect officers, committees and three
regional boards.
One regional board would cover
from the Mississippi to the Pacific;
one east of the Mississippi and north
of the Ohio to the Atalantic sea-
board; one south of the Ohio and
east of the Mississippi to the Allan
tic Seaboard.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22

THE Department Of Agriculture
i reported that the total value
of all farm crops this year is Sd
1872 626 600 contrasted with revised
figures Of S4.114,265 900 for last
year and S2.882 1875 900 for 1892.
Chicago bankers bought from
the Reconstruction Finance Corp
SD 100000 of board of education
a. per cent bonds and paid a pre-
MUM Of "A fun point for the issues.
In a survey of availability Of
bank credit in the Chicago Federal
Reserve District. conducted by Dr..
Jacob Viner and DR.. Charles o.
Hardy. private banks we're criti-
cized for making inadequate loans
and government agencies were as
sailed for their red tape.
American industry dug into surplus
for S9,5OOOOO of finance losses and
pay taxes and dividends, according
to an analysis OF corporation in
come tax returns with the Bureau
of Internal Revenue. The
Bethlehem Steel Corp. announced
the completion of plans for the
erection of new sheet mill to cost
between S10,O00,O0O and S15000000
The battle between the Gov
ernment and the public utility IN
terestS reached new heights with
the disclosure that the Public
Works Administration might
finance a muniCiDallV-OWne power
plant in New York City. The
trend of electricity production con-
tlnued upward in the week end
Cd Dec. Is. showing an increase Of
10 per cent over the corresponding
week last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22

CHARP reduction of apprOpria-
- tions for Federal relief and
public works for the purpose of
balancing the National budget was
advocated by the nations leading
industrial and financial leaders
meeting at White Sulphur Springs,
w. Va, under the auspices of the
United States Chamber of Com
mCrce and the National Assn. of
Manufacturers Former Sec
rotary Of the Treasury Ogden Mills
warned against uncontrolled infla-
ton in a speech at Scranton. Pa.
The Assn. of Life Insurance
presidents reported that new life
insurance production for the first
eleven months of the year was "a
per cent ahead of the correspond
ing period last year. although a
slight decline was noted in NovCm-
bCr The Oil & Gas Journal
estimated that the oil industry in
1885 Will spend S456l 5000 for
equipment. leaseholdS. royalties la
Dor and taxes Sol A. RoSenblatt,
NRA compliance and enforcement
director. promised quick prosecution
of code violatorS following removal
of Blue Eagles The National
Lead Co featured dividend news
with the distribution of a IA per
cent stock payment g. e. Federal Re
serve member banks in New York
CITY and Chicago increased their
holdings of United States Govern
ment securities by S15OOOOOOO dur
ing the week ended Dec. 10, indi-
eating their part in the Dec. Is fl
nancing operation Of the Treas.
ury.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
BY THEODORE PRINCE

NEW YORK, Dec. 22.-Under
Federal control and Federal laws
there should be formed a company
with full powers and with general
corporate powers of railroad opera
ton, to be known as the Federal
Railroad Corp. 1t should be allowed
to issue stock of $500. OO0.O 900 par
value, to be paid for, as issued, in
cash.
The corporation also should be
permitted to issue $4,000, 900 900 of
4 per cent debentures, which might
be sold to the public or bought at
par by the United States Treasury.
Each of the Glass l railroads should
buy stock to the extent of not less
than l per cent of its property in
VeStment value, which would be
about $26O,OOOOOO.
Proposes RFC Loans
Where road was unable to buy
the stock the corporation could re-
lieve it of such obligation or could.
negotiate loan for such purposes
from the Reconstruction Finance
Corp. Roads in receivership could
become a cooperative unit of the
corporation upon such terms as the
corporation and the Secretary of
Transportation decide.
Under certain conditions, more
fully set forth in the plan, roads
might be compelled to reorganize in
order that there might not be too
much of a financial burden placed
on the operating roads entering in
this cooperative plan and duties of
the COrpOratiOn.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-22
FOREIGN EXCHANGE
LBr Abbott. Proctor & Painel
Commodity Prices
-lBy Fenner & Beanel-
COTTON

Dol S[eaCN. , up. f0lCCiDe
NEW ORLEANS
Imperial Valley press., 1934-11-24
New York Stocks

NEW YORK, Nov. pa U.P)-Cum-
ulative evidence of a sharp pickup
ahead in the steel industry was re
flected today in steel shares whicn
rose to nearly points and led
the stock market into higher ter
ritory in fairly active trading.
On the assumption the U. S. Steel
corporation would soon pay some
accumulations on the preferred
stock, traders bid up that issue TO
30, gain of 2sl points. Bethlehem
gained a point, A. NJ. Byers more
than a point and the remainder Of
the group fractions to point in &C
tive turnover.
The Dow Jones industrial average
reached the best level since April
%. Other groups followed stees,
Rails were strong at gains Of frac-
tions to more than a point. Utilities
continued firm.
Automobile issues were well TAX
en- on outlook for substantial gains
in the industry. A still better show
ing was made by the autombile
equipment issues.
CilS received a bit Of attention
when it was learned that east Tex
as oil violators had been assessed
more than 100000 The oil indus
try recently had been upset by hea-
Wy illegal production Of oil.
Tobacco shares continued TO
mount into new high ground On out
look for larger or extra dividends.
New highs for the year or longer
were made by American Tobacco IS
sues, Liggett and Myers B, Reynolds
=, and Phillip Morris.
Copper shares did better than in
recent session. Kennecott was the
active leader in the group. II rose
1rsctionally and small advances
were noted in other issues Of the
group. including Anaconda and In
tCrnational Nickel
Sales totaled approximately 670,
COO shares for the short session of
which 800 600 share we're traded in
the final hour A week ago the to
tai was 453.OO shares. Curb sales
were lbs, ,O0O shares against 1900.
shares a week ago.
Imperial Valley press., 1934-11-24
FINANCIAL CONDITION OF STATE
PRESENTED BY UNITED PRESS

lens and suggested cures played a
major part in the recent guoerha-
torial campaigns, state officials
agree that budgets and the cost OF
government form the immediate
question which must be answered
by the legislature which conyenes
IL January.
Must Retire Deficit
A $24,OOU,UUU pond ISSUE, coupled
with federal funds administered
through the SERA. will take care
of the worst of unemployment ills
until next summer. During the in
tervening period, however, the leg
iSlature must devise some means CT
raising enough revenue to retire a
present deficit of S3l,000000 and
meet an expected added deficiency
of $131, 100000 by June 30 1887.
Regardless of what is done to in
crease taxation and state revenue,
complaints will be made by the
home owner, big business, the work
ing man or all. Taxation at its
best is unpopular, partly, in The
opinion of state officials, because
people generally do not know why
they must pay taxes.
A brief resume will show the
present condition of state finances:
Costs Exceed Revenue
California IS general fund will be
short $31 100000 at the end of this
fiscal year, June 80, 1885 In other
words, cost of government during
the present two-year period will
have exceeded revenue by $3l ,000,-
600. This amount must be made up
during the next biennium.
1t is estimated that $217,000000
will be required to run the state
government during the two years
beginning July !, 1885 In additiorl
$8,000,000 should be spent to i'm
prove overcrowded and inadequate
state hospitals, asylums and pris-
ons. At least $30,000,000 will be
needed for unemployment relief.
An additional $2,000,000 will be re-
quired to pay interest on registered
warrants Estate I.O.U.'s issued in
lieu of cash, of which the general
fund has nonc except for educa-
ton and interest paymentS)
The total of the expected eXpen-
ditures and the 31,000000 deficit
is $288 100000
Revenue Sources Low
Present revenue sources may be
expected to return only $125 100000
during the two-year period. The
sales tax is not expected to MAIN
tain the $5O,O00000 average, in as
much as it will be reduced auto
matically from 2i2 to per cent on
July l, 1885, under the present law.
That will leave $162,5O0000 which
must be raised from other sources.
II new taxation is not levied, or
general business conditions do not
jump nightly, the state will face
a deficit of s162, 100000 by June 80.
1887.