davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23

individuals.
Although the market is receptive
to securities of the better type, the
number of corporations strongly
situated to undertake either refund
ing deals or new financing is eX-
tremely limited. AS a matter of fact,
such companies either have suf-
flcient cash reserves to finance their
capital requirements or are in a
position to negotiate credits of in
termediate maturity with CONNER
cial banks. The latter, incidental
ly, have been vieing for such bust
ness of late.
For these reasons, it appears I'M
likely that the volume of bond is
sues to be offered this year will ex-
coed that placed on the market in
1884, unless the pressure of funds
seeking an investment outlet lifts
the prices of intermediary and
speculative corporate obligations to
a considerable extent. That pros
pect, by the way, is regarded as re-
mote, being dependent on more
brisk recovery in business than cur
rently indicated for the balance of
this year.
- Treasury Deals Awaited
Now that the gold cases are out
of the way, Wall Street is awaiting
announcement of the TreaSury's
quarterly financing. On March Is
there will be a maturity of $528,000,-
900 of 212 per cent certificates,
while on April Is, $1,870,000,000 of
Fourth Liberty 414s are scheduled
for redemption. At the same time,
there are some $450,000,000 of dis
count bills maturing between now
and the end of March. Thus the
aggregate of refundings approx
mates $2,848,OO0,OOO.
Expectations are that the bills
will be paid off with the proceeds
from new paper to be offered on a
discount basis. Holders of Fourth
Liberties, it is anticipated, will be
given the alternative of exchanging
their bonds for either 10 to 15-year
bonds bearing coupon rate of less
than 3 per cent or for notes yielding
in the neighborhood of IL per cent
or more. The certificates, it is be-
lieved, will be refunded with other
notes of intermediate maturity. In
connection with the Liberty refund
ing, the Treasury is expected to
seek about $500,0O0,00O additional
to bolster it's cash position.
Bonds and Alien Holders
Some Wall Street circles have ex-
pressed the belief that, under the
terms of the Supreme Courts de-
cision in the gold clause cases, for
eign holders Of dollar bonds are in
exactly the same position as domes-
tic purchasers in that they can not
collect more than the face value of
the bonds. They contended, in this
respect, that foreign holders were
voluntary ones, since the various
securities were offered only in this
country ito people of the United
States"
Moreover, it was pointed out,
these bonds were never made pay
able in foreign currencies. Should
an actual loss be incurred by a for
eign holder through foreign ex-
change transactions, it was said
that the loss was chargeable to the
individual himself and not due to
any action by the United States.
SeveraN domestic corporations, not
ably the Bethlehem Steel Corp. and
the Southern Pacific Railway, are
servicing their dollar bonds held
abroad in foreign currencies at the
dollars former parity.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
AWARDS ARE LOWER
Engineering Contracts Total S10,-
$4,000 in 4-Day Week.
BIZ Tim es Snecin.

hU inleS special
NEW YORK, Feb. 23.-Engineer-
ing awards are lower on a four-day
holiday week following a holiday
week, as reported by Engineering
News-Record. The total for this
week is S10,996, 900, representing
s2.3O9,000 in private work and
sS,5S7,OOO in public awards of which
81 $4,000 is Federal and $7,057 900
is state and municipal. The latter
volume is higher than the low vol
ume of municipal awards last week,
the report states.
Highway awards at s3,767,0 900 are
higher than last week; waterworks
at S1,171 900 are higher; CONNER
cial buildings at $k101 900 are high
er, but other classes of work fall
below last weeks volume of awards.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
TAXPAYERS GIVEN AID
Local Federal Office to Extend Hour.
Now Until March Is.

For the convenience of taxpayers
the income tax division of the IN
ternal Revenue Office will be open on
Saturday afternoons Feb. %, March
and g.
On March II. IL IS and Il the
Office Will be open until $50 p. m.
and until u midnight on March Is,
the last minute for filing 1884 re-
turns.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
z BILLION CUT
PREDICTED FOR
U. S. SPENDING
CurtaiIment Believed to In
dictate Confidence in
Business Rise.
BY RICHARD L. GRIDLFY
United Press STAFF Correspondent

WASHINGTON, Feb. ga cur
tailment Of Federal spending for
the current fiscal year was pre-
dicted today as the Treasury re-
vealed its money borrowing program
for the next five months.
Of the 1881 .069 .026 estimated in
the budget to be spent in the fiscal
year ending June 80. the Treasury
has spent only S4.385 1863 ,992. leaving
l95,100034 to be spent by June 30.
Conservative estimates placed gov
eminent expenditures for the year
at not more than S6,5O0,00O00O, or
$2,000000.000 under estimates.
Indications government expendi-
lures would be tapered off came
from Secretary of Treasury Henry
Morgenthau Jr., who announced
plans to borrow about $500 900 600 in
new funds" aside from refundiny
operations, between now and June
10, at the rate of $25OO0,000 a week.
Reflects Confidence
The proposed curtailment Of
spending was believed to indicate
confidence of increased business
activity this spring. officials have
reiterated government spending will
be curtailed as soon rs its place is
taken by private spending.
During January the Bureau of In
ternal Revenue reported, tax collec-
lions amounted to $194365. $50.
against 1888, 784,921 in December
and $182,4O4924 in January, 1884.
BY groups, processing taxes
brought in $52,007134 in January
against $43,312413 year ago: to-
bacco, $40,328943, against S4O,974,-
585; liquor. S26,120,306, against s22.-
146,119; manufacturers excise taxes.
$25, S45, TAT. against S28, 753 ,739, and
income taxes, $22.32O,791, against
15,850315.
Industrial Output Up
The Federal Reserve Board said
in It's 1884 business survey, Output
of industrial products was at 70 per
cent Of the 1923-25 average. as COM
pared with rs in the preceding year,
and with the low point of 81 in
1882"
Factory employment and paw
rolls in 1894 were at a higher level
than in 1888, and at the end of the
year factory employment and out
put, was in about the same volume
as at the end of 1880"
Among durable goods industries
the most marked increase over 1888
was in automobiles, where output
was As per cent above 1888 and dou-
BILE that of 1882, the board reported.
Activity in the steel industry also
showed a further increase, while
lumber production continued at an
unusually low level. Industries pro-
duclng non-durable goods showed
little change in aggregate output.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
ITALY MOVES TO AID
ALIEN TRADE STATUS
Frontier at MOdane Closed to
French Merchandise.
Bv United Press

By United Press
ROME, Eeb. 23.-Closure of the
frontier at Modane to French mer-
chandiSe was attributed today to
Premier Benito MuSSolinis determi-
nation TO overcome the unfavorable
trade balance as soon as possible
A study of foreign trade showed
that during the first IL months of
1884 exports Of foods and finished
products decreased by more than
600-000,000 lire. while imports in
these claSSifications decreased by
only 100000.
The trade deficit at the beginning
Of December was 2.1S5 100000 lire
compared 10 1.243 100000 for the
first II months Of 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
LOADINGS SHOW GAIN
BIZ Times Special

CHICAGO. Feb. 23.-An increase
of 3 per cent was reported today in
car loadings handled by the Illinois
Central Railroad during the week
ended Feb. 16. freight movements
rising to 26.S31 cars from 26,031 in
the like period last year. An in
crease Of 5 per cent over the COM
parable 1884 period was shown in
loadings handled in the previous
week this year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
NJ. K. i. OMITS INTEREST

CHICAGO. Feb. 23.-The semi
annual interest payment on the 5
per cent adjustment bonds due April
l. has been omitted by directors OF
the Missouri, Kansas and Texas
Railroad, it was learned today. The
interest totals s67s.87s annually.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
POWER OUTPUT RISES
BIZ Times Special

NEW YORK, Feb. 23.-An in
crease Of II per cent in power out
put of the electric subsidiaries Of the
American Water Works and Elec-
trio CO. during January lifted the
total to 171,709,758 kilowatt hours
from 46,767.278 kilowatt hours in
January, 1884, the company re-
ported today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
DIVIDEND Is CONTINUED
By Times Special

. y 7 IHIte NptCIuI
PHILADELPHIA. Feb. 23.-The
existing dividend scale Of the Penn
Mutual Life Insurance Co. will be
continued, William A. Law, presi-
dent. announced today in letter
70 polcyholders.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
NOTE INITIATION PLANNED
BIZ Times Special

ny Htto Cptttub
TORONTO, Feb. 23.-Infation Of
another $50,0O0,00O Canadian note
isue to help meet deficit and to pay
what is left of last years public
works program, is reported to have
been decided upon by the dominion
government.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
CANADIAN TRADE UP
Economic Outlook for 1885 Held as
Generally Favorable.

7 1II1to ptI''I5
NEW YORK, Feb. 23.-Canada's
economic outlook for 1885 is gen.
orally favorable, supported by the
continuing upward trend in virtual
ly every index Of business, industry,
agriculture and mining, according to
a current survey by the Standard
Statistics Co.
The record Of the past year has
been particularly encouraging, with
the official economic index for Janu-
airy, 1885, reaching a high Of 1049
1925 equals 1000 as compared with
90.3 a year earlier.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
DUTCH GOLD STOCK CUT

81 ITnts NpfCf1f
AMSTERDAM. Feb. 23.-Gold re-
serves OF the Bank Of Netherlands
last week declined 100000 guild
erS. bringing the total such reserves
to 8l0.60oOO0 guilders, it was re-
ported today. Gold cover IS now
SOS per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
FOOD, CHEMICALS LEAD
IN TRUST PORTFOLIOS
Best Gains in Popularity Made by
Groups in 1884.

By Times Special
NEW YORK, Feb. 23.-Common
stocks of food and allied compa-
MES and of chemical companies
appear to have made the best
comparative gains in popularity
among the groups Of stocks appear
ing in the portfolios of the first 80
management investment trusts re-
porting for 1884, according to a sur
vey by the Bureau of Industrial
Service, Inc.
Common stocks of IA food and
allied companies and Of seven chem
ical companies were listed among
the rs leaders in this preliminary
survey.
An analysis of 70 portfolios at the
close of 1888 showed common stocks
of 10 companies in the food group
and six chemical stocks among the
rs most popular. issues.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
GOLD AT NEW PEAK
London Value Up AZ Pence IN
Terms Of Sterling.
By United Press

LONDON, Feb. 23.-Gold reached
another new high in sterling today
when the price was fixed at 143
shilings II pence an ounce, Az
pence up from yesterday which was
also new high. The price in dollars
was S34.97, not a new high.
The pound was $4.86, below its
par Of S4.86 2-3.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
MORTGAGES OF FILA
NOW AGGREGATE 1000
Total Increasing at Rate of 500
Institutions a Week.

Institutions a Week.
By Times Special
WASHINGTON. Feb. 23.-Nearlv
1000 lending agencies in 48 states
and the District of Columbia have
been approved by the Federal HouS-
ing Administration under the terms
Of the mutual mortgage insurance
plan Of the National Housing Act,
Administrator James A. Moffett an
nounced this week.
This nationwide organization IL
cludes 2,12S parent companies with
1908 branches throughout the
Union. This total is increasing at
the rate Of approximately 300 insti-
tutions a week. according to the
Housing Administration.
Total resources Of agencies now
authorized to issue insured mort
cages aggregate S24,874, $4,000.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23

DERSONAL wealth OF Andrew W:
Mellon. former Secretary OF
the Treasury. was revealed for the
first time as totaling S97,6O3 O5.4s.
This figure. which does not include
business holdings. was at hear
ing before the Board OF Tax APP
meals in Pittsburgh by which the
Federal government hopes 10 col
1ect $1,000 900 additional taxes on
Mr.. MELONS 1881 income. OPP
eratious of the Oliver Farm Equip
nent Co. at South Bend were re-
sumed Yesterday as 100 employees
ended a 25-day strike for higher
wages and union recognition
Possibility OF a 45-day adjourn
n,ent of the State Legislature. I'M
til Federal social and economic re-
lief programs have been formr-
lated. became remote. Y Is prob
able. however, that Gov. Paul Y.
NcNutt viii call a special session
in the late spring. In one OF
the few public statements since ne
left the White House, former PreSl-
dent Herbert Hoover urged that
the United States should immedl-
atelv return TO the gold standard
Growing support for repeal OF
the publicity provision Of the in
come tax law was evidenced IN
CongreSs. Speaker Jos, phi Burns
said he doubted the ACCESSIBILITY OF
opening income tax reports 10 the
public view. Indiana leads the
four states Of the Fourth Farm
Credit Administration District IN
the number OF loans TO farmers
cooperative associations. according
10 John E. Brown. president Of the
Louisville Bank for Co-Operatives.
The long battle which NRA
waged with Henry Ford over his
refusal 70 formally accept the Blue
Eagle was ended this week IN an
apparent victory for Mr.. Ford.
Government departments. once pro-
hibited from buying automobiles
from his plant. have purchased 4S5
cars in recent weeks. Mr.. Ford
still has not signed the code.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
OPPOSITION TO PLAN
OF STUDEBAKER ENDS
Independent Protective Group Will
Give Cooperation.

OANC OO-OpCIdllUn-
By Times Special
CHICAGO, Feb. 23.-The indie
pendent protective committee for
the Studebaker Corp. common stock
has sent a letter to holders of GER
tificates of deposit of that issue
notifying them that it has instruct
ed George L. Schein, its counsel, to
do anything and everything neces-
sary' to consummate the plan of re-
organization for Studebaker, and
has arranged to release, without
cost to stockholders, all stock under
deposit under the committees de-
post agreement of March "a, 1888.
At the consummation of the
Studebaker reorganization plan in
the United States District Court late
in January, the independent COM
mittee had indicated an intention
to appeal the plan in the United
States Circuit Court of Appeals.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
BANK CONTROL
Business Week Decries Move in
Editorial.

bN Af'1ce SPECIAL
NEW YORK. Feb. 23-That the
Administration IS about 70 achieve
economic dictatorship in this coun-
Try by the simple procedure Of con-
flScating complete control Of our
banking and credit structure. is the
declaration made in an editorial in
todav's issue Of Business Week.
which protests against the seizure by
government Of these potent powers.
The Federal Reserve has always
heen one OF the soundeSt and most
efficient banking systems in the
world" Il is stated in the editorial.
~and its failures have always been
those Of management"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
NAMED ARNCO AGENT

The Edgecomb Steel Corp. OF New
ark has been made distributor OF
Armco Stainless steel sheets. plates
and strip. the American Rolling Mil
CO. has announced
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
Q1iet Capital Markets
Seen Continued Despite
Decision on Gold Clause
Expected to Remain LethargC Except for Refunding
Operations on Moderate Scale; Varied ReStriC-
tive Factors Still in Attendance
BY w. IAN MACK
Times Special Writer

NEW YORK Feb -Despe the removal Of the gold clause ner-
remain ehargc eundng
ndetermina
cipaly
plethora awaiting
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
Farmers Urged TO Blast
SeIUeS Ont of Drought
Shooting Wells to Increase Flow of Water Has Been Sue
CeSSfuI in Nearly All Sections of Country,
Institute SAYS.

1t IS rather difficult for the keptc munitions
latters
limited highly persuasive
utilized
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
LOCAL CASH MARKET

City grain elevators are paying SO cents
for No. soft red wheat. other grades
on their merits. Cash corn No. yellow
So cents and oats IS cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
Vearlings Excluded
Feeder and Stocker Cattle
STEERS
SHEEP AND LAMBS
Receipts, 300

Lambs. 90 to I2o lbs. good and
choice ...--. ........... SO 006 s75
Common ant medium ...... 6006 400
eo-120 lbs, good and choice. e. 1000 500
fi3o-l5o Good and choice. 80. $500 ATS
AL weights. common and me-
GUM 1,oV2 8.fo
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
FINANCIAL DATL

the entire subsidiary funded debt of
nearly $600,000 It also decreased
the loan by the United States gov
eminent by s70O,000 Cash and
government securities increased
S3800,000, inventories gained $780,
900, net working capital was up
100000 and profit and loss sur
plus increased $3,300,000 On Dec.
90, the current ratio was better than
512 to / and the per share equity
of the capital stock was $5531, an
increase Of SLIT during the year.
Earnings dropped during the de-
preston to low Of S197 in 1882.
Since then earnings have steadily
increased with SAP earned in 1884.
Dividends have been maintained
right along although at reduced
rates. IN 1884 S2.25, plus a 50-cent
cash extra was paid and the stock
is now on a regular So annual basis.
United Fruit was incorporated in
1899 in New Jersey. The stock is
listed on the New York Stock Ex-
change. At a current price of around
IA it yields about 4 per cent and
sells for Is times earnings.
(Au Rights Reserved winchester Institute
OF Finance. Winchester, Mass.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
Stock Studies

Half of the worlds supply of
bananas is grown and distributed by
the United Fruit Co. The company
owns its own plantations bordering
on the Caribbean Sea and in parts
Of Central America. During 1884
the company imported from it's
tropical division 48,879, COO stems of
bananas-about 100000 more than
it imported in 1888. In addition the
United Fruit is one of the largest
producers of sugar in Cuba.
The company operates a large
fleet of steamers for the transpor-
tation of its own products and has
also built up an important pas
senger, freight and mail service be-
tween the United States and Cen
trail America and Caribbean ports.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-23
What Does 1t Mean?

Income Statement-An income statement Of com
pany comprises Of its activities and Show8
chere the unit received its earnings aChere expenses
1Cent and holo much is available for stockholders
The Washington times., 1935-01-03
CRITICS PICK TEN BEST
Times Readers Agree on Seven
But Prefer Shirley Temple
Leslie Howard
By ANDREW R. KELLEY

After 424 of the Nation professional movie critics had vote
on the 10 best films of 1884 for the Film Daily the result
the ballotng announced today as follows:
1. ."Barretts of Wimpole Street,
2. ''House of Rothschild"
3. "It Happened One Nght'
A. "One Night of Love-"
s. "Ltte Women
6. ''The Thin Man."
7. "Viva Villa
8. "Dinner at Eight.'
g. "Count of Monte Cristo'
TO- "Rerke1ev Snuare
The Washington times., 1935-01-03
Late News OF
Broadway

NEW YORK, Jan. q Say
When," one of the more successful
musicals of the new season, will
terminate its New York run Jan.
uary II, due largely to the con-
tinued indisposition of Harry Rich
man, who heads the cast. After
Richman has rested in Florida
for few weeks MCGOWAN and
Henderson will reopen the show
in Chicago.
Benn w. Levy, having success.
fully staged Accent on Youth, "
in which his wife Constance Cum
mingS appears, sails tomorrow for
his home in London to work on a
play of his own, the title of which
is THE Moon"
Boris Aronson will design set
tings for Alex YokeIs Hobby
Horses" by John Cecil Holm and
George Abbott, now in rehearsal
under Abbott'S direction and
scheduled to open in Washington
January 81. =. "The O'Flynn" will
be produced this season in Lon
don by Russell Janney, whose
"Vagabond King" was a big sue
cess over there.
Harry Davenport, George Lessey
and Walter Baldwin will play the
senatorial committee of investi-
CATION in "Battleship Gertie."
These were the roles Courtney
Burr hoped to fill with ex-Con-
greSSmen.
The Washington times., 1935-01-03
w. c. Fields Sights
LARGE Sea-Serpen1

w. c. Fields. screen comedian,
yesterday was the victim of a mild
shock to the nerves, when, as the
biulous Commodore in "Missis-
sippi," he mounted the wheel deck
Of the river boat, squinted through
the telescope and saw the largest
sea serpent ever beheld since Noah
got stranded on Ararat.
Before it was dicovered that, for
a joke, somebody had gone to the
studio greenhouse, caught a cater.
pillar, and dropped it between the
lenses at the end of the telescope,
Fields had sworn off mint juleps.
Bing Crosby, Joan Bennett and
Queenie Smith are also in the film
The Washington times., 1935-01-03
Minority Reports

Now that we know on what most
Of the critics agree about here's
a little salt in the mustard. Some
purely personal opinions.
I didn't like John Balderston's
play of Berkeley Square" because
its shifting story was too vague
and indefinite for the average
playgoer. The scenario treatment
failed to clarity it and as many
The Washington times., 1935-01-03
More Detail SATURDAY.

The Hollywood On Parade Sec
Mon Of The Washington Times
on Saturday will print the COM
plete results of the FILM DAILY
poll. 1t will also present the
IS best directorial exhibits of
1884, the best screen performances
OF the year and the best ex.
ampleS of scenario or script writ
ing revealed in the IL months
ending December 81.
In the Hollywood On Parade
section will also be announced
the first list of winners in the
calling All Stars" contest Of
the Warner Brothers theaterS.
The Washington times., 1935-01-03
Fields Finally
Gets Desire

w. c. Fields, Paramount Co
median and star of "It's a Gift, -
now showing at Loew's Columbia
Theater. finally got the promotion
he has been looking for, when he
started work in his new picture.
Fields old dressing room, for
years, has been situated between
those of Charles Ruggles and
Jack Oakie. His new dressing
room at the Paramount studios
gives him Marlene Dietrich, on
the right, and Mae West, on the
left, for neighbors.
Fields says the view is much
better.