davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-11
COAL GASOLINE
SEEN HELP TO
MANY NATIONS
INCORPORATION Process Held
Destined to Meet Urge for
Self SuffiCienCy.
BY HOWARD CARSWELL
Times Special Writer

NEW YORK, Feb. 11.-Starting
by the Imperial Chemical Industries,
Ltd, of a new hydrogenation
plant in England aid the probable
extension of the INCORPORATION
processing of coal into gasoline in
other European countries was a
topic of interest today among oil
men here.
The new English plant is expected
to supply about 9 per cent Of Eng
lands domestic gasoline needs by
adding hydrogen to bituminous coal
from British mines. England's an
nual consumption of gasoline is
roughly set at 1,4O0,O00,O00 gallons.
Look Into Future
Within few years hydrogena-
ton plants for working up coal may
be installed in France and Italy, and
perhaps Japan and Manchukuo
under the spur of the worldwide
trend toward economic self-sufh-
cheney, according to well-informed
students of the situation.
Germany, which has set the pace
thus far in the struggle for self
Suff1ciency, has been producing coal
INCORPORATION commercially for a
number of years. About 10 per cent
of the gasoline consumed in Ger
many comes from the hydrogena-
ton of Reich brown coal and coal
products. Germany's annual gaso-
line consumption is estimated at
about 400,000,000 gallons.
UnecOnOmical Here
Whereas European nations are
spurred by the necessity of becom-
ing less dependent on petroleum i'm
ports, the abundance of petroleum
and the cheapness of gasoline in the
United States have given the hydro
genation process an entirely diff
ferent course in this country. With
gasoline SO cheap, it mas been I'M
economical to work up coal for the
manufacture of products conven-
tionally prepared from petroleum.
However, petroleum products
themselves may be materially i'm
proved by such processing and low
grade fuel oils may be ungraded to
the point of yielding 100 per cent
gasoline.
With lubricating oils the applica-
ton of the INCORPORATION process
has been found to improve their
cleanliness and freedom from car
bon formation to an extent that the
hydrogenated lubricants compare
with the best Pennsylvania oils, &C
cording to oil men converSant with
the subject.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-11

-FT. WAYNE. FEB. 11.-Hog -steadv. TO
ise hish her 20OI25o lbs: 30 25oIsoO lbs
s. 20: is0-Is0 lbs. ss.i0: iS0-i6O lbs
s. so: I40-I5O lbs. 81; lso-l4O lbs. $3.50;
i0S-i30 lbs. s5.775; rro ouehs ss75: stays.
s475. Calves. SO. lamb $3.50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
On Commission ROW
Reprinted From Yesterday

Quotations below are average Wholesale
SO FFnfsBa6sns5 474o h. Strawberries
home grown 24-ot. case. s275@3 so,
gsd 24-9t case So B54TstbeTries de9 g &
Cherries Cher sIo Gathering Id4 g1ot l5b vs. ss25
taloupes. California jumbo. 36s. crate. 81;
Jumbo, ass. S425; California standards.
s2.50G3. Watermelons. Watsons. Csc: Dixie
Bellies: 55c. Apples. Winesaps. $3.50;
new; fancy Transparents. $3G3.25. Lemons.
fruit, Florida seedless.. 64s, EOS 80s. 1925:
California. seedless. sos. zoos s2.75. Pine
apples. AIS. 49, Lines. Mexican, per car
getsbles@Cabbage. home grown, ,bu.,
$5,25; new Texas white. 5o-lb, Be 6oag; s. IS.
s1.35; selected .Cobbers. 100 lbs, $3.50;
northern Round White l00-ib. bag. 81;
4hgS f bss ssg n s5o r Ida6R RYS o6
bag: g. s! sweet potatoes; Nancy, Hail Hail
h Hampers. si.s s5 Wsx ST. Celery, ~ washed
and trimmed. medium. doz. SIC; Jumbo.
crate. 81. Cucumbers, dollhouse. doz.. 9Oc:
1-doz. box. roc. Endiye. California. -doz..
81. Esq. plant. s1.25@l.5O dog. Kale,
So Lettuce. lighthouse. I5-ib. basket. 45c;
California Iceberg, had lettuce. So.
Manages, $3.50 a hampsr: small basset.
peas. home grown. bushel. sl75 Spinach.
home grown, bushel soc. Radishes. doz..
3od35c: Turnips new a doz; 3Oc B3esets,
doz.. soc Mushrooms; H.. 30q35c. Toma-
toes. home grown. lob. carton. s1.35;
Ohio dollhouse. 8-lb. basket. s..
Al quotations subject to change up or
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
Time PAYMENT
FINANCING NOW
ON SOUND BASE
InStalIment Bankers Report
Loss Ratio Lowest on
Record.
BY HOWARD CARSWELL
Times Special Writer

NEW YORK. June 22.-Time
payment financing has never been
on a sounder basis than il is today,
according TO authoritative opinion
IN the trade. The business Of Com
mercial Credit Co. and Commercial
Investment Trust Corp, two out
standing commercial bankers in this
field. 50 far this year exceeds any
comparable period of preceding
years.
Similarly the credit situation with
such big corporations as General
Electric Co. Westinghouse Electric
and Manufacturing Co. and Cen
eral Motors Corp, which finance
the sale OF their own products. is
reputed TO be in a very favorable
condition.
Generally speaking. currently the
down payments are smaller. as are
the installments and the time for
repavments has been heightened
As for the financing of heavy ma
chinery lines BY General Electric
Co. the favorable credit terms now
available were attributed more to
competitive market conditions than
10 any broad policy of extending
more liberal credit to customers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
SHIPMENTS OF
PRODUCE CLIMB
Current Movement About
1000 Cars Over First
Week of June.
By Times Special

Dy tW6S Spect0t
WASHINGTON, June 22.-Pro-
duce shipments during the last
week, continuing at about the same
rate as in the preceding week,
showed an increase of approximate
ly 1000 cars over movements in the
initial week Of June, according to
the weekly report of the Depart
ment of Agriculture.
The recent sharp upturn, eSpeci-
ally in the MidweStern district, is
attributed largely to substantial in
creaSeS in new crop potatoes, mel
onS and cantaloupes. Melon ship
ments nearly doubled during the
week, while cantaloups increased a
third, compared with movements in
the preceding week.
Lettuce, cabbage, peas, tomatoes
and carrots are decreasing in sew
eral districts in response to previous
price declines, the report stated.
Onions and peaches recently are
coming in heavy volume from a
few sections.
Prices of produce dipped sharply
in practically all lines during the
middle week of June under pressure
of extremely heavy supplies by rail
and truck. Demand also showed
weakness during that week. De-
clines of IS to so cents a crate,
hamper or sack, were reported in
many lines of products, and there
was sbut little recovery evident dur
ing the last week.
In fact potatoes, onions, cabbage
and melons declined to further low
levels. Tomato prices, however,
showed some sign of recovery.
Trading in most Midwestern mar
kets was reported dull, mostly be-
cause of the heavy supplies of near
by vegetables and the spells of cool
weather which interfered with de-
mand for several products.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
S35. 900 AWARD MADE

A $35, 900 contract for moderniz-
ing elevators at the Merchants Ma
tional Bank Building has been
awarded to the Otis Elevator Co.
This contract provides for changing
over four gearless machines to the
latest micro self-leveling type. New
Otis cars, door hangers. cloSers. in
terlocks and sundry items are in
Guided.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
Loss Ratio Negligible.

According to spokesman. a good
index Of the prevailing health Of
commercial credit companies is
their loss ratio. It is now. and has
been for some time. so abnOrmally
low that its continuance at present
low levels is hardly TO be expected.
This is primarily attributable to
two factors. it was explained.
Loans being made today are on
A sound credit basis. The bad paper
arising out Of the collapse of the
boom has long ago been cleaned
out" and liquidated During the
past two years a new stratum"
has succeeded. People generally
have not been buying on an install
ment basis without feeling secure
in their ability to pay
Secondly. the procedure of collec-
tons continues strict. in view of
the Stringencies of the times. Thus
the ratio of losses to volume Of
business is very small.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
COTTON AID WEIGHED
New York Exchange Polls Members
on Type Most Needed.

NEW YORK, June 22.-The ques-
ton of what type of financial as
sistance is needed by cotton farm
ers during the 1886 season has
been placed before members of the
New York Cotton Exchange, it was
announced here today
Among other questions asked ex-
change members was lis it necessary
at this time that the government
make a loan to growers on the cot
ton crop now produced?" Members
also were asked If they were in
favor of loan at fixed price
above IL cents?"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
Plant Renovation

How much liberal credit has slim
ulated General Electric heavy goods
sales Is conjectural. although it was
said at the company that many
manufacturers are carrying through
programs Of re-equiping and mod
erniZatiOn of plants.
Because of the great diversity and
scOne Of activity of such CONNER
Clsl bankers as Commercial Credit
and Commercial Investment Trust,
their operations may be said to pro-
vide a good crOsS-section, or barom-
eteT. of general business activity.
Included in their scope are the
financing of wholesale and retail
lines and the installment sales Of
automobiles. household appliances,
machinery and many another prod
uct. During recent months autOmO-
bile financing has supplied a great
volume Of business. Generally speak
ing. however. the heavy goods in
dustries continue in their depression
lethargv.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
IRON ORE USE RISES

CLEVELAND. June 22.-The Lake
Superior Iron Ore Association, re-
ported today that 2.466.5S5 tons of
iron ore was consumed at the fur
naceS in May. an increase of LOG, 1888
over April In May last year the
total was 2.957.934 tons.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
L0KEY IN NEW POST
Newspaper Man Gets Public ReIa-
tions Job With Stock Exchange.
By Times Specie

By Times Specin
NEW YORK, June 22-Eugene
M. Lokey. member of the financial
staff of the New York Times. has
been appointed executive assistant
to the New York Stock Exchanges
committee on public relations, it
was announced today.
Mr.. Lokey will succeed Jason
Westerfield, assistant secretary. who
is to receive a promotion within the
exchange organization, it is under
stood.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
NO PRICE INDEX TODAY

Because Of the closing of many
markets on Saturdays throughout
the summer the Dun g. BradStreet
index will be discontinued on Sat-
urdayS until autumn.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
1850 Homes Repaired

The reconditioning department of
the Indiana agency of the HOLC
has authorized and completed re-
pairs on 1880 homes. AS a result
of this activity benefits have re-
bounded to the contractor, plumber,
carpenter and general building
trades labor. The aid extended to
labor is best demonstrated by the
fact that go per cent of the money
disbursed was directed to that field.
In marked contrast to the slow
pace of applications for relief at this
time was was the situation two years
ago when the HOLC was created.
In the first six weeks of the earlier
period, more than $4,000 applica-
tons were received by distressed
home owners.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
BY BARROW LYONS
Times Special Writer


specer unemployed living
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
Produce Markets


fReurlute1 Prom hestercaNf
neWrnren IN Indianapolis prices. HEAVY
h~e~a henx. lie LeEhorn breed hens. lie
heavw hreec cocks. &c. Lerhcrn breed
r~rke *. cuiored nrciiers 2 lbs and va.
fse. rexhcrn hroilers. lbs and up l1c-
Parrh8ck brollerx lie. cucks. fuA feath-
cred and fat. &c. Cefsc. full feathered
ard fat e No ! siriet.N iresn ssSss i he's.
r~oTs 4 cscuctfon ~ lcc a pound under
50 its uiil te made Butter-No. ]. asa
sse. tuitsriat. &c. Quoted By The Waoley
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
LOCAL CASH MARKET

City grain elevators are paying 70 cents
for No 2 soft red wheat. Other grades on
their merits. Cash corn No. yellow.
70 cents and oats % cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22

A DISCOURAGING bit Of news
~ for indianapolis residents
came from washington yesterday.
Immediate beginning Of the pro-
posed South side track elevation
project appeared definitely out
when II was announced that the
city must be prepared 10 finance
the cost or purchasing materials.
Harry Hopkins. works-relief
director. said cities must pay AL
they can toward carrying out their
individual programs. IEdianapO-
lis exhausted its bonding power and
can not borrow funds TO defrsy the
track elevation project. Con-
stitutionality Of the AAA was at
tackled in a suit filed in Federal
Court here by Kingan & Co local
meat packers. The action SeegS 10
enioin VIII II. Smitwh. Indiana
revenue collector. from collecting
the processing tax from them.
amounting TO si.I54.O66 for the
first four months OF this year. II
was the first suit challenging the
processing tax filed in this district
and was followed BY three similar
actions in other parts Of the state.
In the meantime. evidence OF
a virtual consumers boycott here
was reflected in the trend OF swine
values a THE Indianapolis Stock
wards. Last week. on June IS. the
top prise was SO Wednesday II
vas 1855. a drop Of IS cents. And
from Washington We hear that a
DELEGATION OF housewives went 10
the Agriculture Department 10 pro-
ties THE COS tot meat. They said
their buying strike already was in
progress IN New York. Boston. Chi
caCo. St. Louis. Cleveland and Pat
erson. y J.. an dthat was a mere
taste OF what was 10 come.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
Trends
Highlights of News
During the Last
Week.
BY FREDERICK MATSON-
Tines Financial Writer

DRESIDENT ROOSEVELT stole
Il most o. Huey Longs thunder
"wednesday when the chief execu-
tive advocated his own share-the-
wealth program in a message to
the Senate. Mr.. ROosevelt's &C
ton. the suddeness 81 which star
tied most Of Congress. was a re-
quest for taxation 70 break up
great concentrations OF wealth and
% redi-'ri5ute the national in
come r. % c5,nt15.-- Briefly,
the Pfessdslts suggestions we're.
] Imposition q inheritance and
GIFT taxes on top ~ the present
estate taxes z. HiEeh taxes on in
comes of more han 100000 a
year. 3. Gradusted taxes On cor
poration lncou IS ranging from
TO- % recent 70 49, per cent 4. A
constitutional amendment permit
ting the taxation Of incomes from
mex tax-fre7 state. county and
municipa. bonds. 8. Elimination
through taxation Of unnecessary
holdlrE companies in all lines OF
huGiness~ Immediately before
ne message vas read TO the Sem
ate that body approved the Presi-
dents social security program. put
forward last January and passed By
the House in April The vote came
after Administration leaders lost
an attempt 10 beat down an amend
meut permitting employers 10 re-
tain their own system Of Oid-age
PEN ions. provided they receive
Federal approval The bill IS now
back In the House. where differ
cnces dith the Senate VIII be
settled
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
Chief Recovery Problem
Cente,S Around Task of
Putting Idle ON Pao110llS
Many Authorities Agree That Large Part of Unemployed
Is Likely to Remain Outside the Pale of
Profit MAKING Industry.


to six
$
eytnR of these
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
S1OO,OOO,OOO Disbursed

Close to $1OOOOO,OOO has been dis
bursed in Indiana to mortgages
who have released mortgages total
ling $4,000 to the corporation. Near
ly 100000 has been disbursed to
city and county treasurers in de-
linquent taxes and Barrett Law as
SeSSments.
Most of the $1O0,0O0,O00 disburSed
has been released to building and
loan associations, banks and insur-
ance companies, who two years ago
were hopeleSsly frozen because of
the devaluation of the mortgages
they hold, Mr.. Mckinney pointed
out.
The HOLC in years to come" Mr.
Mckinney continued, will be rec
ognized as one of the outstanding
organizations of the alphabetical
groups of the New Deal. Even we
who are close to it are unable to
realize at this time its far-reaching
influence.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
THURSDAY LAST
DAY FOR FILING
Hole REQUESTS
Mckinney Says Applications
Must Be Made by Next
Thursday.

Home owners seeking relief from
the Home Owners Loan Corp. must
have their applications in by Thurs
day. E. Kirk Mckinney state man.
ager, declared today. Under provi-
sions of the recent amendment to
the Hole Act no time extension for
filing of applications can be made.
Only 1864 home owners have APP
piled for aid since the removal on
May q of restrictions preventing
the acceptance of new applications.
This, Mr.. Mckinney stated, indi-
Gates that most of the financial in
situations dealing in home mort
cages are in a position to re-enter
the mortgage loan business and
either rewrite or renew their present
delinquent MORTGAGES.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22
N. Y. Bonds

Reprinted From Yesterday
(By Abbott. Proctor 81 PaineD
DAILY BOND INDEX
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22

U. S. GOVERNMENT BONDS
Libertys
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22

INDICATIONS that the United
Il States is ready for worldwide
sterilization Of currencieS on a gold
standard were discerned this week
when Henry MOrgenthaU Jr- Sec
rotary Of the Treasury. revealed he
had aided the French franc last
month when it was in difficulties.
The franc was threatened with
roIlansp on Memorial Day. when
American government offices and
financial markets we're closed. With
panic Threatening in Paris. Jean
Tannery. president Of the Bank OF
France. reached Nj. Morgenthau by
trans Atlantic telephone The re-
suit was a -gentlemen'S agreement
between the United States and
France whereby this country would
support the franc and would ac-
cept payment whenever France
could get the gold 10 the United
States. Mr.. MOTgenthau was
criticised several weeks ago on a
different matter. He had offered a
500 90. 900 issue Of 3 per cent gov
eminent bonds on a higheSt-bid
basis. This represented a depart
ure from the usual practice Of fix
ing a price at which bonds are TO
be- sold. The experiment proved
90 be a profitable one. for the is
sue was absorbed at 1894. equiva-
lent to an interest rate Of less than
go PEI cent With apparent good
reason. Mr.. NOTgenthau this week
announced that an additional $780,
100000 Of 3 per cent bonds Will be
offered IN 4 few days on the COM
petitive bid basis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-22

IMPOSITION m the elimination
Oof unnecessary" utility holding
companies provided in the Wheel
cr-Ravburu bill passed BY the Sen
ate was revealed in the House this
week 4 secret poll by Administra-
ton leaders indicated the death
sentence" provision lacked between
81 and ~ votes Of the number nee
essarv 70 assure passage. In a night
session Wednesday. the House
passed the Wagner labor disputes
bin Already passed BY the Senate.
the measure was returned there
for action on amendments Intended
to insure ITS c0nstitutiOnality. The
bin was. in effect. the New Deals
answer IN the Supreme Court rul-
ing that OutlaWed NRA and ITS
controversial Section IA. guaran-
teeinr labor the right Of collective
bargaining. Two serious strikes
were terminated and one averted
this week. The riOtOuS street car
and bus strike. in Omaha. was
ended. The employees n the To-
ledo Edison Co. resumed work after
a weeks inactivity. The walkOut.
which started eight days after an
earlier one. endangered a large
community with stoppage Of HOwer
for factories and homes. A threat
cned general strike IN South Bend
was called of by union leaders
The strike was TO have been or
dered in sympathy with workers OF
the Oliver Farm Equipment Co.
Henderson daily dispatch., 1935-09-13
rOnAY,S YESTERDAYS

Sept 13, 17O2-Collegiate School of
Connecticut had its first commence
ment. It's first student Jacob Hem
ingway, was its only student during
it's first six months.
This is the institution that became
Yale College in 1745, after Elihu Yale
had purchased his fame cheaply by
giving it $4,000 in books and money.
He never bothered to visit it, or this
his native country, after he amassed
his wealth in India.
Sept. 49, 1776-Samuel Wilson was
born in Troy, N. Y. He was the in
spectOr of meats during the War of
1812who inspired the figure Uncle
Sam.
Barrels of meat he approved and
stamped U. S. were jocularly refer
red to as Uncle Sans by Troy SOL
diers, and the vast possessions of
Uncle Sam whose initials were
stamped on everything the army had.
spread through the Army. Jokes
about Uncle Sam that got into Troy
newspapers were slipped by other edi-
tors, and as his reputation grew,
Thomas Mast made a cartoon repre-
sentation of him which other cartoon
lists quickly adopted as the national
symbol. Or so the legend goes.
Sept 13, 1S14-The British bonn
barded Fort McHenry. Md, in an at
tempt to capture Baltimore, and in
spired Francis Scott Key to write ver-
ses which he entitled defense of
Fort McHenry," The name "Star
Spangled Banner" was an after
thought, after they had been set to
the music of "To Anacreon in Heav-
en-" drinking song composed by DR..
Samuel Arnold, British church Or
ganist.
The tune was familiar throughout
the country long before this. 1t had
been sung as adams and Liberty,
with words by atheist Tom Paine. And
Key himself had written other verses
for the same tune, to be hung at a
banquet of officers returning from
the Tripoli wars.
Sept. 13, 1888 8-The door to the u.
S. was slammed in the face of Chi
nese: all immigration from China
was stopped by act of Congress.
Twelve years later the U. S. was
fighting with Japan, Germany, Rus
sia, ct al, for an open door in China.
Henderson daily dispatch., 1935-09-13
THE WORLD WAR 20 YEARS
AGO TODAY

Sept. 13, 1915--British House of Com
mons voted a further war credit of
81, $50, 100000. No promise was made
by the Cabinet that this would be the
last grant requested.
France called up more men. 25O-
900 this time, fewer than she was ac-
customed to mobilizing at a time.
The Allies were preparing for ma
jor offensive within a few weeks.
But they had come to realize the wis
dom of Lord Kitchener in anticipat-
ing a war of several years.
France had become less hasty
about callin gifts reserves to the colors,
Thus while from August 1, 1914 to
June 30, 1915, 5,567 900 Frenchmen
were mobilized, in the next year only
100000 were brought up in small
patches.
Moreover, some of the men in the
army were now being demObilized,
for in July the process of withdraw
ing from the front those capable of
working in munitions factories had
begun. A large number of trench
commuters" had developed, men who
went home to plant or harvest crops.
and then returned to service.