davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
RUBBER OUTPUT
AGAIN REDUCED
Total Production Placed at
748,000 Tons for
Current Year.
By Times Special

By Times Special
CHICAGO, March 30-The pro-
duction curb to date has not solved
all of the rubber difficulties, it was
indicated today after a further de-
crease in the new quotas was or
dered by the International Control
Committee.
With the second quarter quota set
at 10 per cent of last years output
and the last half at IS per cent, the
production prospects for the balance
of the year are reduced by approx
mately $4,000 tons, it was estimated.
PROBABLY production for the cur
rent year, therefore, will amount to
about $4,000 tons, and consumption
is estimated at approximately 1,000,-
900 tons. Despite the production
curb, surplus rubber stocks have
held around record highs for the
industry.
Until the fresh curb on produc-
ton was established this week carry
over prospects looked gloomy, it was
reported. When the Anglo-Dutch
restriction agreement was estab-
liShed, rubber prices advanced about
3 cents a pound from depression
lows, and declined 16 cents before
heavy worldwide buying slackened
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
FEDERAL FARM LOAN BONDS
BUSINESS IMPROVES IN
GREAT LAKES REGION
Meeting of Advisory Board Dis
closes Bright Trade Prospects.
BIZ Times Special

BIZ Times Special
CLEVELAND. March 30.-Indica-
tons that business in the Great
Lakes regions will be considerably
better during the second quarter OF
the current year than in the same
period of 1884, we're explained at a
meeting of the Great Lakes advisory
board here.
Favorable comment, provided by
$50 business leaders and shipping
men from all Great Lakes cities,
was that the region will use go per
cent more freight cars during the
second quarter of 1885 than in the
same quarter of 1884 and that iron
and steel will require an increase IN
traffic of 3.8 per cent.
The business leaders also pre-
dicted an increase of 1871 per cent
for automobiles, IA per cent for
lumber and boost of 10 per cent
in the traffic for cement. The big
gest decrease for traffic in that
region. however. is expected in
fresh fruits where a drop OF 1916
rer cent is predicted.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
is BUSES DELIVERED
GREYHOUND Lines Places Order for
2O6 New Coaches.
BIZ Times Special


CLEVELAND, March S0.-Delivery
Of e5 new 33-passenger buses for
use in the East by Greyhound Lines
was started today when Is were &C
cepted from the manufacturers. In
all 2O6 buses were ordered by the
company for delivery i'll April. The
new coaches, which are to be placed
in service Immediately, have the
same streamlines as the 1884 model.
Fifty of the 95 coaches delivered
at Toledo and Cleveland will be OPP
Grated by the Pennsylvania Grey
hound unit and As by the Eastern
Greyhound system. The remainder
of the large lot order goes to the far
West and South.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
OHIO OIL SHOWS PROFIT
Consolidated Income Amounts to
$5,411,924 in 1884.
By Times Special

u 7 tNIt6 ISVbCtuE
FINDLAY, March 30-Consoli-
dated net income of the Ohio Oil
Co. during 1884 amounted to
SIS, All 1924, equivalent to 80 cents a
share on 6,563,377 common shares,
excluding 84,675 treasury shares, it
was learned here today. This COM
pared with a net loss of $130,016 in
1888.
Current assets on Dec. 81 totaled
$37,455 500, including $10,058, $50 cash
and marketable securities, and cur
rent liabilities were $3,714,548, COM
pared with $9,964,155 cash and Sc
curities, $36,347,331 current liabili-
ties in the preceding year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30

point to the paradox on government
policy whereby domestic wages are
boosted by the NRA and at the same
time placed in competition by tariff
reduction with foreign wage rates
which are from one-fourth to one
half the American level. The aver
age hourly wage rate in this coun-
try of 65.5 cents per hour is the
highest in history. The same situa-
ton obtains in those industries sup
plying the steel mills, including coal
and iron mines, quarries, and so on,
according to the American steel pro-
ducers point of view on the long
controverted subject Of national
tariff policy.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Stock Studies
NATIONAL BISCUIT

The worlds largest biscuit manu-
facturer is the National Biscuit Co.
Through efficient management and
consistent advertising, the company
has grown to it's present proportion.
The company produces some 500
varieties of crackers and biscuits,
most of them packaged and sold
under nationally advertised trade
names. Eighty-f1ve plants are
operated in the United States, three
in Canada and one in London, Eng
land.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30

What do you know about
banking?
Major changes in the Amer
lean banking system are on
the fire in Washington. The
issue will reach the floors Of
the House and Senate soon.
To give its readers a better
understanding Of the facts and
forces involved, The Indianap-
oils Times has asked Thomas L.
Stokes Of its Washington Bu-
reau to prepare four informa-
tive articles on the subject.
They will appear, beginning
Monday on The Times flnan-
cial page.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
NEW OFFICE TO OPEN

By Times Special
Fl. WAYNE, Ind, March 30
Opening of a new office Of the Lin
coin Life Insurance Co. in the
Plaza district of Kansas City, was
announced recently by A. L. Dern,
vice president and manager of agen-
cies. The office will be under the
management of George L. Grogan.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
BOND MATURTTIES

NEW YORK, March 30.-Corpo-
rate bond maturities during April
will total S38,655, 1913, according to
the Standard Statistics Co. March
maturities amounted to $50 ,524, 325,
and the 155 issues and portions OF
issues falling due in May will total
S110, 1924 400.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
NET INCOME DROPS


NEW YORK, March 30.-The
American Waterworks and Electric
Co., Inc, for the year ended Dec.
81, 1884, shows net earnings equiva-
lent, after payment of preferred di-
vidends. to S1O3 a share on COM
mon stock, compared with $122 a
share in 1888, it was learned today
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
FINANCIAL DATA

corporated in 1898 in New Jersey.
Both classes Of stock are listed on
the New York Stock Exchange. At
current price of around 257s the
stock sells to yield about ia per
cent and for 1872 times 1884 earn
ings.
AN Rights Reserved. Winchester Institute
of Finance. Winchester. Mass.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Tariff Cuts in Trade
Treaties Seen as Menace
to Wage Rates in Z. S.
Lower Duties Feared SubeCtng American Steel Makers
to Competition on Increasing Scale With
Cheaper Foreign Products.
BY HOWARD CARSWELL
Times Special Writer

NEW YORK, March 3O.-The national policy of tariff
reduction through reciprocal trade treaties will tend to
lower American wage rates in the steel industry in compe
ton with the much lower wages paid in European countries
authoritative indicated today.
Economic self-interest of American labor and wage
standards in the steel ndustry lies in the exclusion of inn
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
SILVER IMPORTS RISE
shipments Amount To SsI45.sI7 for
Week Of March %.

WASHINGTON. March 3O.-Sil-
ver imports for the week ended
March = rose sharply 10 S91453l7
from 81 496lOO during the preceding
week. the Department Of Commerce
reported today.
Most Of the gain was the result OF
heavy purchases from the United
Kingdom. These tOtaled S7.99557S.
Other leading purchases were from
Canada. s2s5. AS: Mexico, s730.32s,
and Peru. sS5.650.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Three months 24s.els

Further inroadS of Belgian steel
producers are expected by American
steel producers as soon as the re-
cent reciprocal trade treaty goes into
effect the end of this month. The
pact reduces the tariff 81 10 SO a
ton on steel products from Belgium,
and hence from other countries
having a most favored nation"
clause in their trade treaties with us.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
NET INCOME HIGHER
Earnings of Dome Mines, Ltd, for
1884 Total S3,882,423.

BIZ Times Special
NEW YORK, March 30.-Net in
come of Dome Mines, Ltd, for 1884
amounted to 1882, 423, equivalent to
S4O7 share on 953,334 shares, after
100000 contingency reserve, it was
reported today.
In the preceding year net income
totlaed 1851 ,008 and was equiva-
lent to 1898 share, exclusive of a
100000 contingency reserve appro-
priation which was charged to
surplus account.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30

ported steel products on which
the spread between domestic
and foreign-made products is
mostly in labor costs, it is
contended.
The American Iron and Steel In
stitute has officially protested the
projected reciprocal trade treaties
with Belgium, Sweden, the Neither
lands and Canada. The Brazilian
treaty, in which manganese was a
moot feature, was not protested.
Last week, Great Britain raised
its import duty on steel by so per
cent ad valorem.
Cut Under Belgian Pact
The Belgian treaty would lower
the American duty on imports of
iron and steel products from 81 to
So net a ton. This concession in the
Belgian treaty is incidental to the
fact that any other nation which
is held not to discriminate against
United States goods will benefit
from the tariff reduction. Thus,
Sweden, Great Britain. Czechoslo-
vakia, Italy and perhaps Japan
would stand to benefit most. While
large steel producer, Germany is
earnestly occupied in rearming.
Sweden has long been an important
producer of special alloy steels.
In the United States the compos-
tie average selling price prevailing
on finished steel products is $54 a
ton. Domestic steel producers de
clare that foreign nations can ship
into this country at prices Of SIS to
$40 ton under the American prices.
Finished steel products include
sheets, strips, plates, bars, wire,
structural shapes, pipe, rails, tubes
or, in short, steel which has left
the mill in finished form, but which
provides the new material for fab
rication.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
BONDS
BEING ABSORBED
IN LARGE ORDER
Low Yields of Governments
Turn Buying to Best
InduStriaIS.
By Times Special

NEW YORK, March 3O.-Con-
tinueo domination of the investment
field by high-grade, low-yield bonds,
with government, state and munich
pal issues comprising the front
ranks, was explained in investment
circles today as due to the fact that
such categories of securities are still
without competition as attractions
for conservative investors.
A further explanation was adj
vanced by pointing out that such
intermediate fluctuations and move
ments in business as have tended
to disturb industrial outlook and
speculative markets have exercised
virtually no influence upon the tech
nical position of high-grade bonds.
With government bonds priced TO
yield about 2.75 per cent to even less
than 2 per cent, and with outstand-
ing municipals commanding prices
to yield as low as 2.40 per cent, the
concentration of investment sources
upon bonds of the highest grade has
become pronounced.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30

II EVERSING the position for IN
N come tax publicity It has
maintained consistently IN recent
wears. the Senate Thursday voted.
So 10 Is not 10 open the file Of
mink slip" data to the public gaze
An amendment 10 the income tax
bill however. was attached per-
hitting state and municipal ak
officers to examine any income tax
return on official business Sena-
tor Robert la Toilette Prog. WIS.,
led the unsuccessful fight against
repcaI Of the pink slip section.
United States foreign trade IN
February showed substantial
decline from January. according 10
= DEPARTMENT Of Commerce report
EXPORTS tOtaled sl63.006OOO IN
February compared with Sl76-2S3OOO
i'm January and Sl62 10 600 IN Feo-
ruarv. 1884. Imports were Slo2--
5sT 600 for the month. compared
with si66. e93.O 900 IN January and
Sl32 1855 600 in February last year
Meanwhile. government spend
ING hit a new peace time peak
with Treasuz figures showing eX-
ueuditureS IN excess OF S5OOOOOO.-
600 so far this fiscal year The Pc
rod covers from July l. 1884. 10
March - 1885. less than nine
months. Expenditures were nearly
$500 600 600 above the correspond
ing period last fiscal year A
general reduction IN light and pow
or rates was seen this week as a
major goal Of the new public
works program. The movement 70
cut monthly utility bills by govern
ment financing Of municipal plants
went forward on two frOntS-in the
Office OF PWA Administrator Hsr-
old L. Ickes and -ariouS state leg
islatureS. Spcarhead Of the Fed
cral program IS New YOrk'S pro-
posed SIS 100000 municipal plant
70 supply CITY buildings. In
Texas. the House Of Representa-
tives passed By unanimous vote A
bill providing for the elimination
Of gas waste in the state. The bill
stipulates that stripping opera
tons. the chief source Of waste.
viii BE- unlawful
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
CURRENCY WAR
is IMPLIED BY
STEEL THREAT
Emile FranCqui, Belgian
Iron Leader, Warns
Britain.
BY BARROW LYONS
linz FinanriaI Editor

NEW YORK, March 30.-Steel
men here we're watching with close
attention a drama in international
commerce that was unfolding today
in the trade struggle between Eng
land and the Continent for world
markets, the latest move in which
vas reported 70 be a warning from
Emile Francqui. industrial leader of
Belgium. TO the iron masters Of
Britain.
According to dispatches from
Brussels NJ. Francqui has informed
British authorities that if Great
Britain persisted in using cur
rency depreciation to further its
own ends. it might expect compe-
titiOn in the iron and steel markets
OF the world such as it had not re-
ceived for a long time.
British imports Of iron and steel
have risen 20 per cent over the fig
ures Of year ago. The British
government has announced that in
view Of this situation, additional
import duties amounting to between
half and one-third of the value of
merchandise would be imposed next
week on a number of iron and steel
products. chiefly blocks, billets,
slabs. bars. section girderS. beams,
ioists and pillars.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Varying Wage Rates cited

A general comparison of steel
wage rates, as published recently by
"Steel Facts" of the American Iron
and Steel Institute, follows. The
calculation is based on records of
the United States Department Of
Labor and the League of Nations.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
PRICES REFLECT
EBBINC SUPPLY
OF FREE COTTON
Disparity Cited Between
Nearby and NeW-Crop
Deliveries.
By Times Special

~ 1 lWCS NpfCf1t
NEW YORK, March 3O-A good
part of the current tight condi-
ton of the cotton market and the
SenSitivity Of prices derive, trade
leaders were pointing out today.
from the extraordinary small stock
of certificated or deliverable sup
plies at the different delivery points
designated in the New York Cot
ton Exchange futures contract.
Total certifcated cotton at all de-
livery points on March % was So
542 bales, against 263,813 bales on
the corresponding day year ago.
At New York City, alone, certifi-
Gated stock amounted only to 1880
bales, against 1922 bales a year
ago. New York City stocks have
been as high as 200, 900 bales in past
years.
This condition grows out of the
fact that the AAA has as
sumed control of the bulk of do
nestle supplies and, as these stores
are now practically impounded by
the difference in government loan
value and market levels, none of the
government supplies has been grad
ed for certificstion.
Merchants Without Stocks
The result is a small floating sup
ply of actual cotton available to the
futures markets. Big private mer-
oh
Clayton 81 Co. Well Brothers
and George McFadden & Sons.
have disposed Of huge quanti-
ties of their supplies in the last few
weeks and their brokerage repre-
sentatives have been bidding up the
futures market in an effort to OBJ
tain actual cotton for unfulflled
contracts.
Where this ultimately will lead is
to a sharply widening difference be-
tween prices on future deliveries up
to and including July and the dis
tant or neW-crop months.
That the government can relieve
this abnormaiity in the trade by re-
leasing to the private markets a
portion of the loan and pool stocks
is clear enough, but, to do so, Of
course, certainly would break down
the governments effort to bolster
prices.
On Two Sides of Fence
Accordingly, the governments OPP
erations in cotton and the activities
of private interests have definitely
parted company. The government
has a large supply of lint and a
high price rendered infleXible by
the 12-cent loans made against it,
and the private interests have a
small supply with price range that
moves upward or downward in con-
formity with the old law of supply
and demand
In the meantime, foreign growths
of cotton are expanding as rapidly
as possible, and Brazil, exclusively
an importer of cotton a few years
ago, has become an important eX-
porter, and two American spot firms
have recently established branches
in Rio de Janeiro and made other
preparations to handle the COMPETE
tive foreign fiber.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Testing Ground Seen

But certain fundamental factors
are pointed to as indicating that
government, state and municipal
borrowers are likely to continue for
some time as the main attraction
for investors. Growing bank re-
serves, money rates dragging bottom
and continued absence of new
financing by major industrial units
are outstanding among such factors.
BY some observers of the invest
ment trend, it is believed that the
tendency toward narrower yields for
strictly high-grade bonds is draw
ing near a testing ground. AS low
as money rates are, it is pointed out,
the margin between them and the
yield on long-term investments has
been steadily shrunk. The first
signs of industrial demand, it is be-
lieved, would mark the halt OF this
tendency.
In this situation, the public Of
fering of the Port Of New York Au-
thority's refunding issue of $34,-
100000 of per cent bonds to ma
ture in 1878, at a price to yield
about 367 per cent to maturity, but
somewhat less than that if called
prior to maturity, has attracted
major interest among investment
houses. Reports by the syndicate,
headed by Speyer & Co., were that
the Offering was moving well.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Difficulties May Increase

How such commercial warfare
might affect the steel industry of
the United States is not at present
clear to steel men here, but the
figures of American exports suggest
increasing difficulties in world mar
ketS.
Exports of steel products, ex-
Guiding scrap. which is going chiefly
to Japan. showed a decrease in
January from the same 1884 month
Of i4.123 gross tons. or Is per cent.
Exports in gross tons. less scrap,
for the last three months for which
figures are available, together with
the figures for the previous COM
parable months. were as follows:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Nav Adopt Japanese Plan

Belgium. It has been pointed out,
I can not hope to invade the British
+ home market for steel and iron by
f leaving gold and keeping the belga
/ beneath the pound, but if political
+ conditions shape up in such a way
I that the industrialists do not lose
/ their grip on the government it
might pattern its practice after the
/ japanese.
Japan has deprecated its cur
rency several notches lower than
T the pound. and has consistently
kept It under sterling for the selling
advantage to be gained in world
markets
So long as the gold bloc contin-
ueS to base its exchange currency
upon gold. Berlin may continue to
hold an advantage in world mar
ketS. exchange experts declare. but
if a policy of ruthless trade compe-
titiOn through deprecated curren-
cies is begun the picture will be en-
tirely changed.
How real the threat to Britain is
may be judged from the fact that
last week British steel shares
tumbied sharply upon the very
threat OF Belgian competition.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30

Standard Company Indiana organized
rigid compulsory deposit laws of Indiana
Every department under the direction
experience this particular field well known for his
integrity and ability.
Company sponsored hundred leading Indiana
business and professional men.
We glad furnish Indiana only paric
plans purposes list Of sponsors upon
application Detach and return coupon to
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Other Issues Watched

Marked success by this offering, it
was held, would be received by in
vestment houses generally as dis
tinctly encouraging. 1t would tend
to indicate at least an approach
toward a more liberal attitude on
the part of investment sources.
This week is afforded considera-
BILE interest to investment houses,
along the line of demonstrating
the absorptive powers of investors
with respect to refunding offers. An
issue that will be watched with
special interest is that of $10,000,000
of'Chicago Union Station Co. 4 per
cent bonds due in 1868.
1t was offered THURSDAY at 1O1
by a syndicate headed by the Lee
Higginson Corp, Brown, Hartman
& Co., Inc; Edward B. Smith & Co.,
Field, Glore & Co. and the First
Boston Corp. The syndicate ac-
quired the issue at 9812. The pro-
ceeds are to be used solely for re-
demption purposes.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
CTearlinE Excluded)
SHIFT AND LANES
-

- - aNNN
Lambs. 90 10 10 lbs. good and
choice ---.----'.. ......-- s7.751
Common and medium -.----.. 6 o01
so-i20 lbs. gooc and choice $50 .
sheep.
l1o-is0l Good and choice - 4oo1
AL weights. common and me-
Cl4n sssssss......s.sss.. 200 =
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30

American Steel
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Local livestock

Reprinted from yesterday
The Washington times., 1935-03-22
&C. Won E." Wanted
u. S. to Prepare

To the Editor of The Times:
Who said He'll Hitler?
am in favor Of &c. Won E."
going to Germany instead of
Hitler coming here; then &C.
Won E." will have Hitler protec-
ton and we that do not want
Hitler will not have to leave
or stand for his methods.
It may be that Hitler needs
an aide and since Hitler's ideas
are in line with &C. Won E."
then Hitler might give him the
job as assistant.
Whose war did &C. Won E."
ever fight? The war Of Penn
sylvania Avenue and the Battle
of Anacostia River banks?
What we need Is peace, less
talk of arms and war, and to
keep peace every nation needs
at least six Woodrow Wilson's
and Germany needs IL to keep
Hitler'S blood cool. Then we
could and would have peace and
the guns and ammunition would
rot and every nation would
have peace and protection.
TED BISHOP.