davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
$118,8O9,719 IN BONDS
Is APPROVED BY VOTERS
Proposed Financing Disapproved I'm
November at S37,497.5S2.
Tim .. Specinl

Iimec Special
NEW YORK. Dec 10.-New state
and municipal bond issues approved
by voters of 437 communities To-
Gated in 80 states during November
amounted to s1tS,S09,719, compared
with $43, 767. 739 in October. accord
ing to the Daily Bond Buyer.
Bond approvals are usually
heavier in November than any
other month due to general cleo
lions, it was stated. This year.
however, although the total amount
of bonds approved was somewhat
smaller than last November, the
number of issues amounted to 43s,
compared with only 100 in the same
month year ago.
During the month approximately
s37 ,4S7 ,582 in proposed financing
was disapproved by the voters of IS
communities in % states, compared
with sS,115,825 in the preceding
month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Busigraphs

The production of zinc is one of
the best single measures we have
Of industrial production. This is
because zinc and its compounds are
used in such a variety of manu-
featured products
Although the monthly production
of zinc seems to remain fairly con-
slant, it has. nevertheless. steadily
increased since the low point in
1882. Zinc output in the first 10
months of this year was double that
in the corresponding 1882 months,
and nearly 20 per cent ahead of the
same months Of last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
NOVEMBER SALES GAIN
Sideways Stores. Inc, Reports Rise
of 25.7 Per Cent.
Times Special

SAN FRANCISCO, Dec. 10
Total sales of Safeway Stores, Inc
during the four weeks period ended
Nov. 80 amounted to 24,379, 975,
against SIG 1888 ,248 in the CORE
spending period year ago, an in
crease of 25.7 per cent, it was an
nounced today.
For the 48 weeks period then
ended the total amounted to $685.
859,e18, compared with S222, 20e, 946,
an increase of 209 per cent. Sales
of s24,303,058 in the four weeks
ended Nov. 2 showed an increase of
1858 per cent over the total for the
corresponding period in 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
TREATY AIDS CARRIER

4 fWFN NVfctHi
NEW YORK, Dec. 10.-Because of
its strategic position as a North and
South main route between New York
and Montreal and Boston and Mon
treal, the Rutland Railroad should
receive substantial benefits from
the new Canadian-American rec;p-
rocal tariffs, according to study
prepared BY John E. Sloane 81 Co,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Trends
Theories of Business
Leaders Are Held
Untenable.
by JOHN L. FLYNN.

NEW YORK, Dec. Business
IN leaders are making use of the
breathing spell" extended TO them
by the President to breaths fire
and birthstone on the New Deal.
They have adopted program for
American industry. 1t is. OF course.
blast against the New Deal. Read
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
LOCAL CONTRACTORS
AWARDED |. u. BIDS
City Firms to Participate in Erec-
ton of College Building.
Times Special

1tmes Special
BLOOMINGTON, Ind, Dec. 10
Three of the five contracts for erec-
ton Of music building on the In
diana University campus have been
awarded Indianapolis firms. Leslie
A. Colvin, on bid of S277, 100, re-
ceived the general construction con-
tract. The others were R. M. Cot
ton Co., plumbing, $8713. and SAM
born Electric Co., electric wiring,
$19,535.
Others awarded were Fred w.
Feneman, Bloomington, heating,
S32,918, and Warner Co., Cincinnati,
$685., elevator.
The structure. scheduled for COM
pletion by next fall is part of the
university's S1,000,O 900 building pro-
gram.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
INDIANAPOLIS, TUESDAY, DECEMBER 10, 1885
HOLDING BANK
TO Get 0. K.
ON STOCK VOTE
Reserve Board to Approve
Request of Giannini's
TranSamerica.
Copyright. 1885. by United Press,

Copyright. 1885. by United Press
WASHINGTON, Dec. 10,-A. P
Giannini's Transamerica Corp. is
being granted permission by the
Federal Reserve Board to vote its
huge stock holdings in about 400
banks at the January annual meet
lngs, it was learned today
Bank holding companies like
TranSamerica are required by the
banking laws to obtain permits from
the reserve board before they may
exercise voting rights in the selec-
ton of bank officers and formation
OF policies by individual banks.
Some so bank holding companies,
including the Marine Midland Corp,
already have asked the boards per-
mission to vote their stock. The
board has adopted a policy of strict
secrecy in these matters.
Action Shrouded in Mystery
Permission on the Transamerica
request followed personal plea be-
fore the board nearly two weeks ago
by the dynamic Giannnini.
The boards deliberations on Mr..
Giannini's plea were shrouded in
mystery. Members refused to dis
cuss the case today and Elliott L.
ThurSton, assistant to Chairman
Mariner S. Eccles, said he "didn t
know what action was being taken.
Drastic restrictions, the United
Press learned. however, are placed
on. bank holding companies before
voting permits are issued. To in
sure secrecy of the boards action,
code word signifying the action is
telegraphed to Federal Reserve
agents for transmission to the hold
ing company.
Requirements Are Listed
A letter from Chester Morrill,.
secretary of the board, to Federal
Reserve agents in each of the II
districts outlining the voting permit
regulations indicated that most of
the requests would be granted.
The voting permission agreement
provides that bank holding COM
panies must do the following:
l. Charge off within two years
all losses and depreciation of securi-
ties.
2. Require that its banks write off
losses in loans, discounts and on Sc
curities.
3. Require banks to maintain "a
sound financial condition."
Must Comply With Suggestions
T. National banks must comply
with suggestions of Federal Reserve
officials in the district in which the
bank is located
6. Loans and extension of credit
by the banks are subject to various
provisions of the Federal Reserve
Act.
Z. The holding company must re-
quire its banks to maintain sound
financial policies and not allow any
change in the general character of
the banks business or investments
without permission of the Reserve
Board.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
NOTES TO BE REFUNDED
s41S,000,000 in Treasury Issues to
Mature Dec. Is.
By United Press

By Untted Press
WASHINGTON. Dec. 10-HCIders
of s406 100000 of the maturing s418,-
100000 Treasury notes falling due
Dec. Is have agreed to refund them
into new securities, the Treasury has
announced
A total of s247 600, 900 of the ma
turing notes was exchanged for two
f1ve-year IL per cent notes and
$3.50 900, 900 for 10-to-12-year "a per
cent bonds.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
LEATHER DEMAND GAINS
Times Special

CHICAGO. Dec. lO.-Although
there is still steady demand for
quality feathers. tanners in this
district are working overtime on old
orders, 1t was announced today.
Some report that they are sold
ahead through to the end of the
flrst-quarteh period.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
CHARGES u. s.
USES DEBT TO-
INITIATE MONEY
Johnson Hits EccIes' Policy:
Declares It's Deadly
Dangerous
BY HUGH S. JOHNSON

CHICAGO, Dec. 10.-The govern
ment is using its debts for money.
Instead Of printing a piece OF paper
TO pay for some of Rex Tugwens
unoounded nonsense (Which piece
OF paper says: This is 10 dollars"D.
1t puts an o U in bank X, and on
this l 0 U bank X gives Rex
piece of paper saying, This is 10
dollars"
1t isn't 10 dollars in either case
You can't get anything for it from
the government except another piece
Oh paper saying, This is 10 dollars"
| Inc effect on money and prices is
Just the same as if it had been
printed in the more direct way.
Flags Eccles' Policy
Mr.. Eccles, who is in charge of
initiation. thinks this is a good thing
because 1t makes money cheap and
prices high He says there is no
danger because nobody is now using
this funny money in frantic bid
| ding"
Mr.. Eccles is right that "infla-
tlon' is not the deadly dangerous
Things he is doing. When it comes
IL Will be the effect of them-not
them. He is like man waving a
Sputterlng torch in a powder mag
aZlne and crying, This torch won't
dow you to bits-only the explo-
sion it will cause can do that"
imitation is runaway price
structure caused by popular convic-
tlon that the government is going
10 make money worthless. and that
the only salvation of savings is to
turn all money and fixed securities
into goods. Mr.. Eccles saws he is
going to make money only a little
WorthleSS-like fairly good egg"
Gust Nightmare"
Imitation is popular moneyphobia
like the tulip craze. the MissiS-
sippi Bubble and the Florida boom.
Mr.. EccleS can cause it, but he can
neither time it nor regulate it. No.
body can.
There have been plenty of expert
ments at the hands of dewy-eyed
dreamers, but may all angels and
ministers of grace defend us from
this one. 1t is like turning a human
heart over to tinker for a surgical
operation-the substance of the
United States puts at the mercy of
bucolic and opinionated theorist
with full power to act.
1t can't be true. It's just night
mare.
| copyright. 1885, by United Feature
Syndicate. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10


weaknesses but to policies that de-
stroyed the guarantees on which
American business depends-eXperi-
mentation with currency, govern
ment competition and vast public
debt"
TN the matter of laissez-faire, this
J. is a pretty complete somer-
sault from 1881, when H. l. Harri-
man, former president of The
United States Chamber of Com
merce, said:
"A freedom OF action which
might have been justified in the
relatively simple life of the last
century can not be tolerated today,
because the unWise action of one
individual may adversely affect the
lives of thousands. We have left
the period of extreme individual
ism and are living in period in
which national economy must be
recognized as ocontrolling fac
tor"
The theory that our economic
system did not collapse is of course
flying in the face of history. In
March, 1888, all the banks had to
be closed to save them from COM
plete insolvency. Forty-nine out Of
every 100 Americans were unem-
poyed. Nearly all the railroads
faced bankruptcy.
ID BUSINESS men rushed to the
- government in terror begging
for rescue. In the next year bust
ness continued to function be-
cause the government, with it's
credit and resources, held it up as
in the palm of its hand.
The third proposition is that
such break down as we had was
due not to the system itself, but to
government policies, government
competition, currency experimental
ton, heavy borrowing, etc. Of
course this too flies in the face of
history.
The collapse came by March,
1888 All OF the things about which
the industrialiSts complain came
after that. The original collapse
came nearly four years before at a
time when not only business itself,
but the government and all the So
cial, economic and cultural mech
anisms of the nation were COM
pletely dominated by business men.
The President was a business
man, his Cabinet was made up al
most entirely of millionaire bust
ness men or corporation lawyers.
All the great agencies of the gov
eminent were controlled by similar
men. The crash of 1929 can not
be blamed on government tinker
ing,
TINE failure to recover between
Il 1929 and 1888 can not be blamed
on politicians and government
tinkering for in this period business
men dominated the government.
politics, schools, the press.
The whole document of these
business men is crowned with the
conclusion that no change is neceS-
sary. With most of the policies of
the New Deal one may disagree.
But here, on the other hand, is a
leadership which asserts that no
leadership is necessary. that moth
ing is wrong, that all must be left
as it is.
Business men pride themselves
on being optimistS. Yet this is the
counsel of the darkest pessimist
based on the theory, apparently,
that nothing can be done about
anything.
,Copvright 1895 NFA Service Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10

it carefully and
you will find
underlying it
several funda =
IN e n t a con-
ceptS:
FirstA COM
plete assertion
Of faith in UNI
modified laiS-
seZ-faire.
Second That
the American
system did not
collapse.
Third - That
the depression
break down was
due not to the
systems 0 W n
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
TUNG OIL OUTPUT UP
November Shipments to Z. S. Total
9.52s,000 Pounds.
By United Press

By United Press
WASHINGTON, Dec. 10.-Heavy
shipments of new crop tung oil were
made from Hankow. China, during
November, practically all destined
for the United States. it was re-
ported today by the chemical di-
vision of the Department of Com
merce.
Total shipments from Hankow in
November reached $685. 900 pounds
compared with 3.730,000 during the
preceding month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Local Securities

Reprinted From Late Time. Yesterday,
'because quotations local securities
are unlisted on an Exchange, The Times
can not assume responsibility for the &C.
ouraey of these figures gathered from local
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Pushed by Demand

Because of the widening demand
for this special product, technical
improvement in at-rolling of steel
has been perfected and introduced.
Production men Of the group say it
represents the most important dis
play of inventive genius within the
industry since the Bessemer con-
verter revolutioned steel making.
The invention is a machine known
in the trade as a four-high con-
| tinuous strip rolling mill. Whereas
sheets are rolled individually from
small sheet bars by the practice in
vogue during the last fifty years, the
continuous mill breaks down a huge
slab of semi-fnished steel and fin
iShes wide strip some 200 feet long.
which is afterWard sheared into
sheets of marketable lengths.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10

- BY United Press
WASHINGTON, Dec. l0.-Government
expenses ana receipts for the current dscal
year TO Dec. T. as compared with a wear
ago:
This Year Last Wear
Expenses $3,2sl 957 81 81. Os5. ss8. $50 20
Receipts. l549. 544 654 is / $50 pa 9I8 35
CsSp 80 ai2 4Ss y 1888 694. DOL SIS
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
SHEEP AND LAMBS
-Peecinfs 15N0

Lambs 90 lbs. down. good and
choice ....-........-.... $40 d1125
Medium ................... S.759l0.5o
t90-l25l Good and choice 1000 50t,
All weights. common and me-
diunl 35oa $50
tlzo-lool Good and choice. 5000 400
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Eliminates Workers

Furthermore, a crew of 1875 to 1870
skilled Workmen can man con-
tinuous mill that will turn out 1000
tons of sheets day, or about 600-
900 tons annually. while dozens of
hand-operated mills and $500 work
men would be required to produce a
like tonnage by the old method.
American Rolling Mill Co., a mod
erate-sized independent whose orig
inal plant is in Middletown, o.,
perfected the new style f1at-rolling
While it was building the first four
high mill at Ashland, KY, the
Columbia Steel Co.. another small
independent, was building one at
Beaver, Pa. Both companies fin
ished about the same time, but the
Beaver concern put the first
mechanically rolled sheets on the
market That was ten years ago.
America Rolling Mill later bought
out its competitor lock, stock, bar
rel--and patents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Auto Radio Sales at NeU Peak

Sales OF automobile radios hare passed the million
mark for the first time and mH probably reach total
Of 100000 for the gear This compares ucth total
of $50 900 sets sold IN 1884,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Many Mills Building.

During the next few years the
activities of American Rolling Mill
upset the whole industry in the
matter Of sheet making. Most other
companies arranged for licenses to
manufacture under the Ohio con-
Germs patents. A rush to build
continuous mills was started.
Since 1929. eight such mills have
been completed and put in oper-
alton. The companies building
them. at an average cost of about
100000 per plant. were Youngs-
town Sheet and Tube Co., Inland
Steel Co, Weirton Steel Co., Wheel
ing Steel Co., Otis Steel Co. Great
Lakes Steel Corp, Ford Motor Co..
and Allegheny Steel Co.
Bethlehem Steel Corp and United
States Steel Corp, two biggest UNITS
OF the group, missed the early pro-
cession but have joined in 1895
Bethlehem will complete one mill at
Buffalo within a few weeks. United
States Steel is building two.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
LOCAL CASH MARKET

City grain elevators are paving 8s cents
Tor No. soft wheat. Other grades on
their merits. Cash corn new No 4 yellow
IS cents and oats 10 cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
NeU York Curb
Dividends Declared
(By Abbott, Proctor & Pain

Dividend rates are given in dollars and
cents unless stated otheryise.
Company Rate Per'd Payable Close
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-10
Chicago Grain Futures

t6Y UnlJed PreSSl
CHICAGO FUTURES RANGE
by James E. Bennett IL Coz
Imperial Valley press., 1935-12-04

nearer. The light grew brighter, the
clouds sank lower, and we could
hear a cracking noise, like a long
whip. Streaks of light shot over us
like rockets, flash after flash. The
wolves, those who were not killed,
began to slink away So frightened
they almost crawled on their sto-
machs.
Fades Into North
THE light grew fainter and the
great sleigh seemed to vanish into
the north. What do you think of
it?' asked Kitsenna.
Tt is the Great Spirit of the
North, he whom you call Santa
Claus the Eskimo replied simply.
You saw him with his long whisk-
ers and the whip which he used on
the wolves. He has headed into the
north to show us the way to his
home.'
II would like to ask all the boys
and girls who read this what they
think. We white people do not take
things SO simply as the uncivilized
races. Should we believe it was
Santa? If SO, what was he doing SO
Imperial Valley press., 1935-12-04
|l(l (ln'I<<>a
Grains
Poultry
Livestock
New York Stocks

NEW YORK. Dec 4. UP)-Reviv-
al of initiation talk as the session
of Congress approaches, together
with a list of favorable dividend ac-
tions and good business news
brought a rise of 1 To > points in the
stock market today in substantially
increased trading.
Railroad shares led the upturn
with oils and rubbers also strong
Automobile shares did not partici-
pate in their usual way although
the leaders had fair gains. Coppers,
electrical equipments. liquor shares,
and merehantile issues advanced.
Demand for rails attributed 10 be-
lated recognition of the excellent
October earnings reports and fall
ure of the St Louis Interest Com
mission 10 disturb the market. Gains
ranged 10 nearly 4 points in Union
Pacific. Atchison made new high
for the year at 80 up 3is and held
most of it New tops were made by
Pennsylvania. southern Pacific,
New York Central Illinois Central
and Great Northern. Nickel Plate
preferred jumped Ia points. Nor
folk and Western continued to ad-
vance into new high ground.
Initiation hedging was seen in
purchases of metal, oil and rubber
shares. New highs were made by
International Nickel. Anaconda and
kennecott. L. :. Smelling touched
were made by Continental, Consoli-
dated and Texas Corporation.
standard of New Jersey touched
49, up a full point. L. 5. Rubber
preferred gained more than points
and Goodyear common was up more
than a point.
The foregoing commodity stocks
also had in their favor higher price
outlook. Traders looked for an ad-
vance in the price of Midcontinent
Il IL D. a
ed today and some foresaw another
rise here. There was revival of
boost in tire prices.
Ability of the steel industry TO
continue to increase production in
the face of retention of prices
brought good buying into the steel
division at one time. L. 5. Steel pre-
ferred mounted more than points
on outlook for some action in the
near future on the accumulated
Sivid ends. Youngst own Sheet K
Tube made a new high for the year.
Bethlehem rose more than a point,
Imperial Valley press., 1935-12-04
COURT CAN'T DESTROY
AAA, SAYS WALLACE

CHICAGO. Dec. 4. up - The
Agricultural Adjustment Admins
tration is so important to the well
fare of the American farmer under
his present conditions that not even
an adverse decision by the supreme
court could destroy il, Secretary
of Agriculture Henry A. Wallace
said today.
The federal government is con-
siderine ways and means of cir
cumventing decision declaring the
act unconstitutional, he said.
I'VE know that the court may act
unfavorably on the AAA," the Sec
retary told newspaper men at the
international livestock Exposition
today.
Should the act be thrown out,
however, there are a number of
other possibilities which might
make it possible to continue, name
ly, substituting sales tax, an in
come tax, or some other kind OF a
tax which might be developed"
Imperial Valley press., 1935-12-04
lContinnen -1rom. .rage d

Continued rom rage u
eleighs outside. Then we poured al
cohol on one of the sleeping bags
and the Eskimos heaped blubber on
the fire until we had a roaring
blaze.
THE wolves, bowling and snap
ping their long sharp teeth, closed
in in spite of the fire. Soon they were
snarling only a few feet from our
party. While two of us loaded our
guns the other two beat back the
bloodthirsty animals using the butts
of our guns as clubs.
Suddenly four of the shaggy
beasts charged two of the reindeer.
Galloper, the leader of our teams,
rose on his hind feet and brought
his sharp-pointed hoofs down and
through VOLTS skull. The other
deer killed one of the VOLTS in the
same way. However, the remaining
two beasts leaped for the reindeers'
throats. Over and over they rolled
in the SNOW. Kitsenna killed one
with his spear. Pa-tun-nuk ran his
long snow knife through the other.
''All of us knew that we could not
hold the angry pack off much long
er when something happened which
seemed almost miracle. High up in
the sky there appeared great light,
like a great searchlight played over
our party.
The Northern Lightsl This will
give US better chance to aimr
Fred cried.
THE Eskimos fell to their knees.
Look! 1t is the Great Spirit Kit
SIENNA shouted. We three whites
stood quietly, little frightened.
Santa Seen i'm Sky
I'm the heavens we saw a Won
derful sight. Fluffy clouds on the
skyline looked like a great sleigh
drawn by team of reindeer.
THE sleigh raced nearer and