davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times., 1935-10-03
BANKERS WEIGH
MONEY LENDER
STATUS OF u, S,
ECCIeS and Myers Give New
Deal View at French
Link Gathering.
BvUri'cd Prcw

p
FRENCH LICK. Ind Oct. 3.-The
governments position as a national
lending institution was discussed to-
day by speakers at the twenty-sec-
ond annual convention Of the Mort
gage Bankers Association OF Amer
lea
The three day meeun. which
opened yesterday is being given over
largely TO a discussion of THE GOV
ernment versus private lending in
an effort to answer the question. Is
the government Supplemenung or
supplanting private lendng?"
The Administration S viewpoint Of
the question was presented by Mar
riner S. EccleS governor OF The Fed
eral Reserve Board. and William I.
Myers. governor OF the Farm Credit
Administration
One Of the principal speakers on
the DAYS program was Frank c.
Evans. Charlottesville banker. who
led a discussion Of farm MORTGAGES.
H A. Merrideld Milwaukee. Wis.
spoke on The Building Up and
Functioning of Farm Sales Organi-
cations"
The convention VIII conclude to-
morrow with business sessions st
which new officers VIII be elected.
Owen NJ. Murray. Dallas. Tex, Is
the retiring president.
DR.. Gus Dyer. professor of eco
+ nomlCs at Vanderbilt University,
Nashville, Tenn VIII be the prin-
/ clpal speaker Of the closing session.
The Indianapolis times., 1935-10-03
MONTHS LIVESTOCK
VOLUME DECREASES
Total for Month Reported Lightest
in Years at Yards.
BIZ Times Special

By tmcs special
CHICAGO, Oct. 3.-Although the
volume Of livestock handled at the
stOckyardS here during September
was the largest since January, the
total was the lightest for that month
since 1872. it was announced today.
The Chicago StockyardS, the ma
tion'S largest. has been operating in
its same location since 1865.
Total carlotS OF all livestock re-
ceived at the yards during the last
month aggregated 11,456. compared
with 17128 in the corresponding
month a year ago, and 20,685 two
years ago.
Hog receipts alone during Sep
tember amounted to only l67.706,
compared with 366.696 in the same
month a year ago. and 1.238.404 two
years ago, the latter total including
pigs and SowS slaughter by the gov
ernment The gain in receipts dur
ing September was attributed to a
seasonal increase in the movement
Of cattle and sheep from the range
The Indianapolis times., 1935-10-03
B. & 0. FAVORS CUT
IN PASSENGER FARE
Roads Could Win Back
Traffic Lost, Brief Says.
By United Press

By United Press
WASHINGTON, Oct. 3.-The Bal
timore & Ohio Railroad, only East
ern carrier favoring reduced passen-
ger fares, yesterday told the Inter
state Commerce Commission in a
brief that it favored proposed dras-
tic cuts in the cost Of tickets and
elimination of Pullman surcharges.
The B. g. o. said it felt the I. C.
c. would be fully justified in sup
porting fares of cents a mile in
coaches, and cents in Pullman
cars, without the present charge for
the more luxurious ride. Present
basic fares are 3.6 cents a mile.
Results in experimental fare re-
ductions in the South and West, the
railroads brief said, have proven
that the carriers can win back the
traffic lost to buses and private au-
tomobiles if their fares are rea-
sonable.
The Indianapolis times., 1935-10-03
BREAD PRICE BOOST
INEVITABLE FOR OHIO
Bakers Association Head Predicts
Rise of l to 2 Cents Loaf.

81 lfmcS Spcctdt
COLUMBUS, Oct. 3.-An increase
of l to 2 cents in bread prices, de-
pending on the size of the loaf, was
cited as inevitable in this district
today by Frank Noyes, secretary OF
the Ohio Bakers Association.
It's bound to come, Mr.. Noyes
predicted. The only thing needed
is for some one to take the first step.
Then all of the dealers will fall in
line. They must do it TO save them
selves.
"All other foodstuffs have gone
up. and it is inevitable that bread
will 90 up, too" Unless there is a
price hike, Mr.. Noyes said, other
bakers will be unable to stand the
pressure of mounting costs and they,
too, will be forced to close down.
The situation becomes more serious
every day" he added.
The Indianapolis times., 1935-10-03
On Commission ROIU

Quotations he,0V subject 20 change. are
r-fracc wholesale prices bCing offered 10
huvcrS bv -cc.- commission dealers
Bananas Sc 10. Peaches.
NiC-'-aC E-c---1S b. SIS. Fears Mich
,-au Bartle-S bu 50 80. Michigan seckleS.
r3GO Is. 5>. Sl-5 WatermelonS. laolana
Round 21125c. apples new Indiana
.fcrathaus. I'm 81 25al IS. GRIMES Golden.
rl S-e5 summer RambOS. eating. bus.
SltS Maiden Blush 81 IS, WealthyS bus
81 Lemons. 36os S. Grapefruit Isle OF
Persian seedicss per 100 Sc.
less 5u'. si So KentutSv Wonders. 81
Bc6-s home grown. CO. 2Oc. Caobase.
home grown So--b caE. 7oC. Carrots.
home -rcvU ana Ohio So. new bulk. h3 X
hu Csc CaU-i1OWcr. Colorado. lis, l2st
crate SIS Celery. Nich.Can washed and
45c hearts Gat s.. 80. Corn. home grown.
Coz l5 20c. CuCuU 1erS home grovn. hu-
So A1.e. home grown. cu.. SOC Lettuce.
Ircccr- California BEST So 81. nome
grown leaf. l5-.6 basket. o5c Eudlve, Ohio
hasSc- sec Ma.cocS home Grown. bu-
taro- home EroNn ol.. soc. onions. home
-rovr. yellow 5o-lo bag 81. home er0vn.
white 5c-.c bag s. IS. Utah spanish. So
ia. oaC- s. so. Parsley home grown. ooz-
S'c Peas. telephone hamper. S2-25- Po-
tatoes-Ncw Jersey CobblerS. 100-lh bag
81 25. Earv Ohios bu.. 81 SIS. Sweet po-
tatceS-North Carolina Jerseys hu.. 81 10.
EacisneS. Ohio buttons 2-doz. baskets. 6Oo.
Rhuca-r. outdoor CCE SOC Sage coZ
f5c- spinach. New Zealand bu.. 75c
SQUASH. summer white. 75c. Turnips new
home sEoVn. lo-l5. basket. 4oc. busheL
The Indianapolis times., 1935-10-03
DiSclaim Responsibility

Although no statistics were quoted,
each executive asserted-with con-
siderable emphasis-that the 131
per cent decline, as listed in the sur
Vey, was not representative of con-
ditionS in their respective stores.
Generally, they said. the amount Of
stocks on hand at the end of August
was approximately the same as dur
ing the corresponding period last
year
An official of one larger house
suggested that the low ebb of stocks
in Indianapolis stores might be so
only by contrast. This would re-
suit if stores in other cities replen-
ished their inventories on a large
scale while local units stood still.
Another executive stated that de-
liveries we're hard to get in some
lines of merchandising, and that
this might be responsible for the low
inventories He declared, however
that it would be extremely unlikely
that this, in itself, would cause the
wide discrepancy between the Au-
gust, 1884, and August, 1885, figures
in the banks report.
The long and short of the situa-
ton seems to be that none of the
leading local department stores
which should command a dominat-
ing influence on statistics for the
city, registered even close ap-
proach to the 13.1 per cent decline
in inventories reported by the Fed
eral Reserve Bank of Chicago.
The Indianapolis times., 1935-10-03
FOREIGN
IMPROVEMENTS PLANNED
Information al Harvester CO. to
Spend S2,25O,OOO Modernizing.
BIZ Times Special

BIZ Times Special
CHICAGO, Oct. 8 Improve
ments costing approximately 81
$50 900 have been authorized by the
International Harvester Co. for its
Wisconsin steel works in South
Chicago. it was announced today
The company will also spend about
100000 in modernizing a mer-
chant mill
The chief purpose Of the modern
ization program is TO improve pro-
duction equipment and methods
from the standpoint Of operating
economy and efficiency" according
to C. F. Biggert, vice president OF
the company.
The Indianapolis times., 1935-10-03
JOBS MAKE GAINS
Current Demand for Trained Help
Shows Substantial Rise.
BV Times Special

-" tWfN NPfc'Ht
MINNEAPOLIS. Oct. Employ
ment demand for trained Office help
and young executives has shown a
substantial increase. according TO a
survey Of so business schools re-
leased here today by the North
western National Life Insurance
Company
In some cities the current demand
for this type of employees is the
largest since 1929, the survey re-
vealed. With the first visible in
crease occurring last year, now. it is
impossible to supply the demand
for trained male Office help, schools
in many cities reported.
The Indianapolis times., 1935-10-03
CORN PROSPECTS GAIN
James f. Bennett & Co. Reports
Crop at 2,1S7, 100000 Bushels.
BIZ Times Special

BV tWCS NUCcI1I
CHICAGO. Oct. 3-Corn pros
poets during September showed
moderate improvement throughout
the country, according to the first
private monthly crop report issued
today by James Z. Bennett & Co.
The report placed the prospective
corn crop this season at 2,187OO0 600
bushels.
The Department of Agriculture
report released on Sept l predicted
a harvest for the current season at
only 2,184 100000 bushels. and the
Bennett estimate last month was
2,144, 600 900 bushels.
The Indianapolis times., 1935-10-03
BANK CONDITION CALL
BY GOVERNMENT NEAR
Continued Deposit Growth, Gain in
Loans FOreSeen.

hH i1.ffr Press
WASHINGTON. Oct. 3-Federal
banking officials soon Will issue their
autumn call for reports on condition
Of all banks under their jurisdiction,
it was learned today.
The reports are likely TO show a
continued expansion in deposits and
a possible reversal of the long
downward trend in loans.
Banks subject to this scrutiny by
Federal examiners are members Of
the Federal Deposit Insurance Corp.
and the Federal Reserve System.
They include all national banks.
The Indianapolis times., 1935-10-03
COMMODITY INDEX OFF
Wholesale Prices Drop Slightly in
Week Ended Sept. IS.
BG Times Special
WASHINGTON Oc


WASHINGTON. Oct, g.. The
wholesale commodity price index,
after advancing moderately in the
preceding week. showed a slight de-
cline during the week ended Sept.
IS. the National Fertilizer Associa-
ton announced today.
The index for the week fell to
100 per cent of TIE 1926-2S average.
from 1913 per cent in the preceding
week. The decline in the index was
attributed TO a decrease in foods,
grains. feeds and livestock values.
The Indianapolis times., 1935-10-03
Produce Markets

The prices quoted below are paid Tor
stock gathered II the country while ce-
lyereo in Indiana polls the price vii oe a
cent higher Heavy breed hens. lsc
LeghorD breed hens l2c neavv oreeo
cocks, &c Leghorn breed COCKS. Sc: col
ored hEolleEs. lbs. and up lSc. Leg
horn byoiiers. Ia lbs. and up I2c. bare
back broAcE2. i0c. ducks fun feathered
anc fat &C. geese. fun fcathered and fat
&c. gl-leas. l5c each No. I strictly fresh
eggs loss of 24c. Each full case must
weigh So lbs gross. a deduction OF i0c a
pound under S. lbs. viii be made. Butter
NO. -snaoo. hutteriat. 22c. Quoted
BY the Wacley Co.
The Indianapolis times., 1935-10-03

FINDER the Jones plan the New
- York Central Railroad would
issue $90,0O0OOO in convertible
bonds to Hquidate its current loans.
Of which the $63OOO,OOO held by the
banks are on demand basis. The
REC agreed to purchase half the
new issue. thereby hquidating the
present RFC debt of S27,OO0000 and
permitting a 30 per cent liquidation
Of the present bank debt
Obviously. this arrangement
failed to 90 over with the banking
interests. Where S9O,OOO,OO is in
volved it is TO be expected that con-
Hcting creditor groups are going to
be at odds somewhere along the
way. It has been true in the past
and there is no reason to believe
That the same conditions Will not
prevail IN the latest instance
Extension of the RFC loan should
be of considerable assistance in the
New York Central picture Defer
ring of the maturity will give the
BFC, the bankers and the road
more time to dedicate to the work
ing out of the knOtty financial
problem New conferences undoubt-
cdlv viii be held IN the next so days
IN an effort to effect agreement
among creditors.
The Indianapolis times., 1935-10-03
C. P. MEGAN NAMED TRUSTEE

CHICAGO, Oct. 3.-Charles P.
Megan. former president of the Chi
cago Bar Association, was named
trustee of the Chicago 81 North
western Railway Co. today by Fed
eral Judge John p. Barnes.
The Indianapolis times., 1935-10-03
City Department Stores
Unable to Explain Big
Drop in Goods on Hand
Federal Reserve Bank Says inventories in August Were
1871 Per Cent Under Year Ago; MyStfied Local
Trade Puzzles in Vain for Reason.
BY FREDERICK MATSON
Tfv-,r Ef-.-rf,I Urft.r

decrease stocks goods hand indianapolis
somewhat Of in local merchandising circles today
The Indianapolis times., 1935-10-03
Up in Chicago, Detroit

The report showed that Indian
apolis and Milwaukee were the only
major cities of the district in which
department stores had reduced in
ventories in August as contraSted
with the same 1884 month. Local
houses were listed as having a
startling decline Of 1871 per cent and
Milwaukee a drop Of 10 per cent.
Chicago and Detroit stores had in
creases of 10 and 1.3 per cent re-
spectively, according to the survey.
In the district as a whole. inven-
tories averaged O6 per cent lower.
But the cause of the decline, as
reported by the Chicago Reserve
Bank. remains unknown. In fact,
doubts have been expressed as to
the accuracy of the figures.
Officials of four leading depart
ment stores in the city, when asked
if they would suggest reasons for the
high percentage of decrease of
stocks in indianapolis houses, could
offer no EXPLANATION.
The Indianapolis times., 1935-10-03
LOCAL CASE MARKEr

City grain elevators are paying 90 cents
Tor No. soft red wheat. Otner grades OF
their merits. Cash corn No. 2 yellow
n cents and oats q cents.
The Indianapolis times., 1935-10-03
Trends
Jesse Jones Goes
Cunning for
Bankers
by VINCENT LYONS
Times Financial Editor

WITH several Of the nations
W leading railroads virtually in
hook ~ either. and sometimes both.
the Reconstruction Finance Corp.
and the Wal Street banking fra
tcrri.y it was believed merely
question Of time before the two cap
Ital vendors would be getting in
each others hair. The first definite
sign q this quarrel came 20 light
Yesterday with the disclosure Of an
exchange OF letters over the week
end
Rotund jesse Jones. chairman Of
the PFC. chief lending agency Of
the government, went cunning for
Now York bankers who had directed
criticism hIs way and in retaliation
laid down barrage Of counter
charges. The entire episode was
provoked bv the attempt Of the PFC
and other banking interests 10 Un-
t7ugle The financial affairs of the
New York Central Railroad.
Both the government and the
bankers are greatly concerned with
the eventual solution OF the road S
problem. The RFC is a creditor to
the extent Of S27500.00O and 10
New York banks are owed SOB 000.-
000 OF the indebtedness to the
RFC Sl5.600000 became due on Oct.
l. but tie Federal agency. cscheW-
ing ac role Of a ShvlOck. granted
the road an extension Of 90 days.
The Indianapolis times., 1935-10-03

EAECUUIVtS SCIdICIIEU IIITI IItdUa
and pondered the situation, yet
could offer no explanation
The decline was reported last
week by the Federal Reserve Bank
of Chicago in its monthly survey of
business conditions in the Seventh
Federal Reserve District, comprising
the states of Indiana, Michigan,
Wisconsin, Illinois and Iowa.
The Indianapolis times., 1935-10-03
INDIANA JOBS,
PAY ROLLS Up
IN SEPTEMBER
Employment UP 1.9 Per
Cent Over August, Wages
Gain by 3.3. Per Cent.

Employment, pay rolls and man
hours worked during September
registered substantial improvement
in Indiana over the preceding
month. the Indiana State Employ
ment Service declared today on the
basis Of reports received from l48l
manufacturing and non-manufac-
turing establishment Total en-
ployment was up 19 per cent, pay
rolls were increased 33 per cent
and man hours worked were 5.6 per
cent greater than during the prev
IOus month.
indianapolis firms made substan-
TALLY greater gains in employment
and pay rolls during the month
than were experienced throughout
The balance Of the state. City
establishments reported increases Of
6.5 per cert in employment and 7
per cent in pay rolls.
The Indianapolis times., 1935-10-03
Food Group Leads

OF the IA major industrial groups
of manufacturing industries studied,
10 showed gains in employment,
ranging from 1 per cent in the
paper and pulp industries to 271
per cent in the food industries. The
substantial increase in activities IN
the food group was due to a further
extension Of canning factory pro-
duction schedules. The iron and
steel, machinery, railroad repair
shops, non-ferrouS metals, lumber,
textiles, tobacco and rubber groups
Of industries experienced employ
ment gains during the month.
The durable goods group of indus
tries reduced employment 3 per cent.
The heaviest of the heavy industries,
namely the iron and steel and the
machinery groups, increased en-
plOyment 21 per cent and 2.6 per
cent respectively. Pay rolls in the
iron and steel plants in Indiana in
creased s per cent. The non-dur-
able goods industries increased en-
plOyment lib per cent and pay rolls
"a per cent.
Increases ii employment from
August to September were shown
in six OF nine non-manufacturing
industries surveyed. The largest in
crease was in the dyeing and clean
ing industry, where 80 flVns report
ed employment gains of 10.5 per
cent. Retail trade establishments
increased employment 4.2 per cent
and pay rolls Sc per cent.
The Indianapolis times., 1935-10-03

MR. JONES in a letter dis
W patched to Harold S. Wander
bit, Il the finance committee OF
the New York Central Railroad.
charged that letter signed by
George whitney partner Of J. P.
Morgan * Co. and jackson E.
Reynolds. head OF the First Ma
tI0nal Bank Of New York. was "ob-
vously intended 10 make impossible
any suggestion that the banks and
The RFC exchange their demand
notes for bonds
A proposal made by Mr. Jones
that the banks and the RFC take
convertible bonds was asking the
financial institutions to violate the
banking laws fOTbidding them from
owning railroad stocks. the Whit
uey-BeynOlds letter stated. Jones
branded this statement as untrue,
adding that The Controller of the
Currency had held that the banks
could legally accept the convertible
bonds.
Mr. Jones defended himself on
other grounds. In his periodic trips
20 New York City to enter into con-
VIBRATIONS regarding financing for
railroads, Mr. Jones makes no
bones about discussing the situa-
tion with newspaper men The
bankers ordinarily are the opposite
and have criticized the RFC chief
for his relations with the press. Mr..
Jones in an earlier letter dated
Sept % took to task those persons
who pointed finger at him.
The Indianapolis times., 1935-10-03

WASHINGTON Oct. 3.-Goyernment eX-
penses and receipts for the current fiscal
wear 10 Oct. ! compared with last year.
This Year Last Year
Expenses ISL $50 366 968 1871 223.877
Receipts ...... 005 556.4i6 966. 900. .556
Deficit ....... a44 610.552 $50. .333. .320
Cash bal. 7S3 7ls.OlO 1901 s51 ,o45
The Indianapolis times., 1935-10-03
1925 Workers Represented

Employees reported in the calcula-
tiOns for the whole state tOtaled
144275 during September, Of whom
1904 were employed in manufac-
turing establishments. Reports we're
collected in cooperation with the
United States Department Of Labor S
Bureau OF Labor Statistics.
Employment in 675 manufacturing
establishments in Indiana, employ
ing approximately 81 per cent of all
the persons engaged in manufactur-
ing pursuits in the state, showed an
average increase in employment of
10 per cent. a pay roll increase of
"a per cent and man hour in
crease Of SO per cent. Employment
increases are customary during
September.
This year the increases in en-
plOyment were slightly in excess of
the average increase in the United
States during the past l6 years. The
pay roll increases were considerably
in excess of seasonal expectations.
The Indianapolis times., 1935-10-03

LAMBS. 80 lbs down, good and
CLolCe '..'''-'' ...-'- .''.'- So.2uI 80
Medium ..'.....'. .'...'-'''.' b.foq $50
Ewes
(90-125l Good and choice 2.5oG $50
All weights, common and me-
dium ........., ............., 50d $50
(12O-150l Good and choice ? 000 800
The Indianapolis times., 1935-10-03
CBy Blvth & Co. Incl
NEW YORK BANK STOCKS.
FIRE INSURANCE
Chicago Grain Futures

CBy James E. Bennett
The Indianapolis times., 1935-10-03
SHEEP AND LAMBS

Receipts. 1900
The Washington times., 1935-02-14
DEATHS

tieth st. N. w.
VII, Laura Walker. 81 years. 27s7 Adams
N. e. |-' - 81
Anna A. Knowles, 70 years, aosS o
st. N. W.
Samuel Holmes. 10 years, U. s..
Soldiers Home Hospital.
Elizabeth Strickler, 70 years, SIS NJ
George seitz. 70 years, National Horneo-
pathic Hospital.
Barbara Bolster, 81 years. Home for
Alfred Glascock. IS years. Casualty
George H. zellers. IS years. sos Thlr-
teenth st. N. w.
Grace McElroy. 50 years, aaninger
Anna NJ. Crowley, 50 years, 1900 Q St.
N. W.
Carleton M. Brown, IS years, SIS
Quackenbos st. N. w.
Doris M. Curtin, years, Emergency
Mary L. Hill. 1 year. chndrsn's Hos
pital.
George W. Garner. IS years. 1ss U
John IL. Thomas 81 years. 1894 st.
Ettis E. Tanoil, As years, 1924 Ninth
st. N. W.
william Campbell, IS years, 1441 Nor
ris Rd. s. e.
Clarence Cant, 46 years, Mt. Alto Hos
pital.
Edith D. williams. s years. 91s
Fourth st. S. e.
Julia Fauntroy, IS years, Emergency
Hospital.
Clayton Anderson. 81 years. Tubsrcu-
losls Hospital.
zeno Langley, ii years. Gallinger HOS
pital.
Marie johnson, 30 years, 1000 New
Jersey Ave. S. e.
The Washington times., 1935-02-14
MRS. PARSONS
FINAL RITES
HELD TODAY

Funeral rites for Mrs. Mary L.
Parsons rs, widow of James l..
Parsons, we'll known local builder,
were held this afternoon at the
home Of her son-in-law and daugh-
ter, Mr.. and Mrs. M. E. Maddox,
1904 Connecticut Ave-, North Chevy
Chase, Md, with interment in
Congressional Cemetary.
Mrs. Parsons died Monday at
the MADDOX home, where she made
her residence. She was born in
Manchester, England, but had
lived in Washington since she was
three years old.
Her husband, who died in 1917,
built the District Building, several
units of American University and
a large munitions plant in Balti-
more.
In addition to Mrs. Maddox,
Mrs. Parsons is survived by an
other daughter, Mrs. F. Larmour
Oyster, also of Chevy Chase; a
son, Capt. David A. Parsons, Of
Washington; two sisters, Mrs. H.
R. Blodgett, Of Saco, Me-, and Mrs.
J. r. Stabler, of Lutherville, Md,
and brother, ]. c. Rathbone, of
Washington.
The Washington times., 1935-02-14
OFFICE
READY MAR. |

SILVER SPRING, Nd, Feb. IA.
Finishing touches are being added
to the new $4,000 county liquor
warehouse and office building,
which is being built near Georgia
Avenue and the East-West High
way. County officials said today
it would be ready for occupancy
by March /.
In addition to the liquor ware.
house the new building will
house the retail liquor store, now
on Georgia Avenue, offices of
the County Engineering Depart
ment and the Maryland National
Capital Park and Planning Com
mission.
County Commissioner Paul M.
Coughlan and his staff will re-
main in their offices in the ores.
ent county building which will
house the police department. for
the eastern suburban area of the
county,
The Washington times., 1935-02-14
DRIVE OPENED
To FREE JOBS
Of POLITICS

Enactment of legislation where
by Government employees in the
manifold agencies would be
blanketed into the ranks of the
Civil Service was the target of
a new drive today by Federal
employees whose sweeping victory
in their fight for restoration of
full pay was climaxed with the
signature Of President Roosevelt.
In an effort to protect the
bulwarks Of the Civil Service
structure and to prevent a spread
Of the spoils system appointment
to Government positions, a con-
certed drive was under way to.
day by agencies representing
Government employees to divorce
politics from Government jobs.
Closes Long Battle
With President Roosevelt's sig
nature yesterday, the supplemental
appropriations bill restoring full
pay to Government workers April
became law. The Presidents act
brought to close a long and
stormy battle in behalf Of the
Government employees.
With thousands Of Government
employees in washington subject
to the caprices Of politicians be-
cause they are not on Civil Service
rosters, a drive to blanket them
into the classified service will be
the first objective.