davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
ST, 345,00O Is TOTAL OF
CONSTRUCTION AWARDS
Contracts Awarded in 1885 Are
Valued at S33,714,0O0.
I lines Special

NEW YORK, Dec. 2.-Contracts
awarded on current construction
projects in the process industries
total S1,345,000, and the cumulative
total for contracts awarded in 1895
Is S33,714,000, according to the
Chemical and Metallurgical En-
glneering magazine Current pro-
posed work and bids asked total 81
O19000, with a cumulative total for
the year of S48,894 900, the report
stated.
The outstanding proposed prof.
Get reported this month is the con-
Struction Of a three story chemistry
laboratory and electric building ON
the campus Of the Case School of
Applied Science, Cleveland, at an
estimated cost Of S2,5O0.O0O.
Contract has been awarded for
the construction of factory for
the A. P. w. Paper Co. Albany.
N. Y. at an estimated cost of
100000. Cave Springs Distilling
Co., Newport, KY, is receiving bids
for the construction of distillerv
and warehouse at an estimated cost
Of 100000.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
BANKER RULES
TO BE EFFECTIVE
FIRST OF YEAR
Reserve Board Announces
Regulations on Loans
to Executives.
81 Tnitcf PrcSs

WASHINGTON. Dec. 2.-Regula-
tiorS for loans to executive officers
of member banks will become effec-
tive Jan. l. the Federal Reserve
System has announced.
The announcement pointed out
that the banking act of 1888 pro-
hibited executive officers of menu
Der banks from borrowing from or
otherwise becoming indebted to
member banks OF which they were
executive officers and likewise pro-
hibited member banks from making
loans or extending credit to their
executive officers
The board today defined the term
executive officer" as follows:
The term. executive officer
means the chairman of the board
of directors. the president, every vice
president, the cashier. secretary.
treasurer. and trust officer of a
member bank. and in addition, every
other officer of a member bank who
participates in the management of
the bank or any branch thereof. re-
CARELESS of whether he has an off,
cial title or whether his title con-
tains designation of assistant, and
regardless of whether he is serving
without salary or other compen5a-
ton; but such term does not include
a director or member of a committee
who is not also an executive officer
within the foregoing definition"
Similarly the board has defined
the terms loan" 'loaning.' 'ex-
tension of credit" and extend
credit to mean:
The making of loan or the ex-
tending of credit in any manner
whatsoever"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
CALUMET & HECLA
BOOSTS PAY SCALE
Copper Firm Raises Rate
11I2 Per Cent.

BH tNfCd Press
CALUMET, Mich, Dec. 1.-The
Calumet & Hecla Consolidated Cop
per Co. today had announced an
approximate liz per cent increase
in wages, effective immediately.
The company is Michigans larg-
est copper producer.
Minimum wages are increased Is
per cent by the new scale and en-
ployeS paid on an hourly basis will
get a 5-centS-an-hour increase.
The object of this increase at
this time company officials an
nounced, lis to meet. as nearly as
possible, the increased cost of liv-
ing"
More than 1400 men will benefit
by the increase.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
OIL PRODUCTION DROPS
Daily Average Output for Week at
2,839,95O Barrels.
Times Special


NEW YORK, Dec. 2.-The daily
average gross crude oil output for
the week ended Nov. % amounted to
1889 $50 barrels, compared with
2,850,600 barrels in the preceding
week, according to figures released
today by American Petroleum In
stitute
Imports Of petroleum for domes-
tic use and receipts in bond at the
principal United States ports. for
the same week, totaled .264 900 bar
rels, a daily average Of 1851 bar
rels, against a daily average of g.
ST. barrels for the preceding pc
ROD. Daily average for four weeks
ended Nov %, was 131. 036 barrels.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
GIFT BUYING UNDER WAY
Retail Sales Show Increase of ; to
Per Cent in Week.

NEW YORK. Dec. 1.-THE 1886
Christmas buying season already is
we'll under way in many centerS, ac-
Cording to Dun e. Bradstreet. Tue
Retail sales during the last week
showed an increase of 3 to per
cent over the preceding week. and
i to IA per cent over a year ago
Early gift buying in some sections,
it is reported. is running to pro-
portions indicating a record Christ
mas season. Wholesale distribution
has increased steadily as retailers
inventories shrank under pressure
of insiStent consumer deTand. The
trade group also reports an increase
in industrial activity.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
CASH PAYMENTS OF
OIL GROUP INCREASE
Dividends of Standard Companies to
Total S17O,O7S,6S2.
Times Special

ItmeS special
NEW YORK. Dec. 2.-Aggregate
cash dividend payments by COM
panieS of the Standard Oil group for
the year 1885 are estimated at S17O.-
070,682 compared with S169 ,092, 500
in 1884, according to figures COM
piled by Carl H Pforzheimer e. Co.
In addition to the cash payments
this year. the Standard Oil Co. of
New Jersey on March Is distributed
in the form of a stock dividend
1889. 345 shares of Mission Corp.
capital stock which on the date of
distribution had a market value of
approximately S13,206,O00, and
which, if added to cash payments
would bring the total for 1885 to
S183,284 682 or S14.192.153 more than
in the preceding year.
Socony-Vacuum Oil Co. distribut-
ed 30 cents share in 1885 for a to-
tai OF approximately S9,347,130. or
half of what was paid last year.
while the Ohio Oil Co. dividend of
30 cents share this year approx
mated $1.970,000 compared with IS
cents a share, or $2.954. 900 in 1884.
Preferred dividends of Ohio Oil Co.
totaled about S3,350,OOO in both
years.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
OPERATIONS AT go P. C.
1000 Back to Work After Strike at
Motor Products Plant.
7 imes Special

DETROIT, Dec 2.-The Motor
Products Corp. here announced to-
day that more than 1000 men ara
back to work and that the company
is operating at about so per cent Of
the rate IN effect before the recent
strike.
The plant currently is operating
on a 91s-hour shift. but expects 10
go on a two-shift basis before the
end of the week. it vas announced.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Produce Markets

The prices quoted below are paid for
stock gathered IN the country. while de-
livered in Indianapolis the price will be a
cent higher. Heavy breed hens. loo. Leg
horn breed hens. l2c. Sprngers. over II,
Leghorn springers. IL lbs and up l2c.
Turkeys-Young hens 8 lbs and up. loo:
toms, 10 to IS lbs. l9c: over Is lbs. lsc:
up loc; geese. 10 lbs, full feathered and
fat, &C. old guineas. lSc: yourg guineas,
i. lbs. and W; Csc No. | strictly fresh
eggs loss OF. 25c' pullet eggs lsc. Each
auction Of loo a pound under SIS lbs vii!
be made. No. butter. 36ia 037iac No. 2.
Ssa.34 So &C: butterfat, 3lc. Quoted by the
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
BANK DEPOSITS GAIN
Dominion Government Reserves Rise
S5,179,059 During Week.
Times Special

TORONTO, Dec Dominion
government deposits with the Bank
of Canada during the week ended
Nov. q showed an increase OF
S5,179,059, while deposits of char
tered banks were up s1,368,958, COM
pared with figures of the preceding
week, it was announced today.
The ratio of reserves to liabilities
moved up 62.85 per cent from 6219
per cent. Total assets of the bank
moved up to S317,571, 513 from
S313,996,971.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
u. S. GOLD IMPORTS
TOTAL S49,865,573
Silver Shipments Decrease Sharply
During Week Ended Nov. %.

DV JNTEU FTtHS
WASHINGTON. Dec. 2.-Imports
of gold into the United States dur
ing the week ended Nov. % totaled
$40, 1865 ,573, compared with S38,430.-
568 during the preceding week, the
Commerce Department has an
nounced. Of the Nov % total, s44,-
724.628 came from France.
Silver imports during the week
ended Nov % totaled S13,069,259,
compared with S22,081,157 during
the week ended Nov Is. Largest
amount of silver came from the
United Kingdom, which sent So
230286 to this country during the
week ended Nov o.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
BONDS TO BE REGISTERED
I i'm es Special

CHICAGO, Dec. 2-Registration
of an issue of s3,5O0.00O of first
mortgage Az per cent bonds by the
Revere Copper and Brass Co. with
The Securities and Exchange Com
mission is expected shortly. it was
announced today. Proceeds from
the sale will be used to refund the
like amount Of outstanding IS of
l948, which are callable at lO71s.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
BuSigrabhS
TREND OF

The farmer who was one of the
hardest hit by depression conditions,
has made real strides toward re-
covery. The comeback in the
prices of farm products has natural
ly helped.
The prices of farm products
reached their low point in February.
1888. but since then have more than
doubled. During the last year the
increase was per cent, which COM
pareS with an increase of about 5
per cent in the wholesale price Of
all commodities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
STOCK LISTING APPROVED
Times Special

NEW YORK, Dec. 2.-The gov
erning committee of the New York
Stock Exchange has approved the
application of the Anaconda Cop
per Co. for the listing of S55 600, 900
of Az per cent sinking fund de-
bentures, due 1850. sold on Oct. Is
at 98ia and interest, it vas learned
today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Trends
Ordinary Expenses
Often Termed
Emergency
BY JOHN T. FLYNN

NEW YORK. Dec. a Mr.
1 Roosevelt at Warm Springs,
brooding over the budget. focuses
attention on that dreadful instru-
ment. For the budget may be as
important a figure in the next
campaign as the full dinner pail
was in 1896.
TIE President has just an
nounCed that departmental re-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02

quests have al
re a d Y b e Q n
pared by $500,
100000. This led
0 b S erV S TO
conclude that
I h e President
had found a
way to cut
down the ordi-
nary expenses
Of the govern
ment by $400,-
100000, leaving
the eXtraordl-
nary or emcr-
genCy expenses
TO be dealt with
later.
No such con-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
WORK HOURS INCREASED

iTHfe NpfCFNI
LYNN, Miss, Dec. 2-The General
Electric Co. has posted notices at
the plant here that the work week
for process workers will be increased
TO 40 from SO hours. effective at
once, it was announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02

Clusion can be drawn. Cutting down
departmental requests is one thing.
Reducing the budget below last
years is another. Cutting depart
mental requests is a matter Of
form always. Departments always
ask for more than they hope to
get.
DUT it is important to know
I'D what relation the SO-Called
ordinary expenses of the govern
ment will bear to the receipts Of
the government in the coming
year. In 1884 and 1885, apparently,
receipts have exceeded ordinary
expenses. This. of course, is
mere illusion But this year there
is no illusion
Leaving out all emergency eX-
penses, the budget of ordinary
costs is, to date, 1888 ,000,0oG out of
balance. This means that if the
government were not spending a
penny on relief or recovery objec-
tivcs, the government is still rum
ming behind to the extent Of over
$40 100000 a month.
But the simple truth is that the
ordinary budget is far more out of
balance and has not been in &C
tual balance for the last three
years.
IF you look at the 1885 figures
Il you see that while the gov
eminent spent S3,721 100000 on its
ordinary costs, it took in $4,000,
100000. That looks like a surplus.
But a little examination will show
thai there is much to be explained.
For instance, compare the costs of
various departments in 1885 and
1888 and you will be astoniSned at
how enormously the cost seems to
have been reduced.
When you see the Department
of Agriculture costing $317000,000
in 1888 and only $62,000000 in 1885.
YOU know that calls for some eX-
PLANTATION. In 1888 the Treasury
cost 1915, 600 900, but in 1885 it cost
Sl2l 100000. You know that there
has been no such reduction.
The achievement has been
wrought by means of bookkeeping.
The many activities of the Treasury
which were formerly carried as or
binary Treasury costs, are not dis
tributed to other accounts.
THIS may be all right so long
Il as those accounts are kept in
the ordinary budget, but many of
them have been assigned to the
emergency expenditures.
This is the explanation. A large
number of expenditures - the
amount must be very great, pos
sihly several hundred millions,
which belong properly in the ordi-
nary cost accounts. are moved by
a twist of the boohKeeper's wrist
to the emergency accounts and
thus the ordinary budget seems in
1885 to be in balance.
The same thing holds good for
1896. Great sums which in the
past would have been called or
binary expenses are now trans
ferred to emergency expenses.
(CopvriGht 1885 NEA Service, Inc)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Local Securities

because quotations on local securities
are unlisted on an Exchange, The Times
can not assume responsibility for the &C
curacy OF these figures gathered from local
brokerx)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
TREASURY ASKS
S9O0,OOO,000
FOR EXPENSES
Huge Fund to Be Raised
by Offering Bonds
and Notes.
BY RICHARD L. GRIDLEY
United Press STAFF Correspondent

WASHINGTON, Dec. I'm its
largest new money" financial oper-
alton of the year, the Treasury
today sought to borrow S900,000,OC0
to meet the governments heavy
wOrksrelief load and for current
expenses. If fully subscribed, the
loan will boost the national debt
to new alltime high of more than
S30.5OO, 100000
The money is to be raised by sale
of S450,000000 Of "a per cent 10 to
12-year bonds and $450,000,000 of
IL per cent flve-year notes. In adj
dition, a $418,291 900 Dec. IS note
maturity will be met by giving the
holders the privilege of exchanging
them for bonds or notes
Since the start of the current
fiscal year last July /, the govern
ment roughly has spent S60O,0O0,0 600
month and taken in only
S300,OoO,00O a month in revenues.
The additional $300,000,000 needed
each month has been raised either
with borrowings or paid out of the
TreaSury'S general fund.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Dividends Declared

Dividend rates are given in dollars and
cents unless stated otherwise.
Company Rate Per'd Payable Close
Bower Roll Brig .20Go stk Dec. 20 Dec. 10
Brazilian Tract
& 1t p ... 1.5G O Jan 2 Dec IA
Bruck Silk Mills 80 @ Jan. Is Dec. 16
Canadian Gamers
Crown zeller A.10 :. Jan. Is Jan. 2
Crown Zeller B LOO -. Jan. is Jan 2
Gen Am Trans 8712 .. Jan. Dec 10
Imp lob Can .6at @ Dec. 81 Dec 10
aPac West Oil. .25 :. Dec. % Dec II
bRiverside Silk
Mills 50 cum
= part 4 p rs -. Jan. 2 Dec IA
Riverside Silk
Mills 50 cum
part A ...... .35 Q Jan. 2 Dec IA
Scovill Mfg rs @ Jan. l Dec. IL
Southwest Penn
Pipe 100 @ Dec, 81 Dec. Is
Pipe ........1.00 ex Dec. 3 Dec. 16
Southwestern
G & E 81 p.2.00 @ Jan. 2 Dec IA
Southwestern
G & III p LIS @ Jan. 2 Dec ID
Texon Oil & Id is Q Dec. 30 Dec 10
aPreviously paid 40 cents on November
80. 1884
bon account of accumuations.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Unemployed Rolls Decrease

The total number Of unemployed 1corkers IN the
United States IN October amounted to 9.16O 600,
cordjng to the National Conference Board. This
decrease Of 235OOO 25 per cent from the prcri0ps
month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02

LOCAL CASH MARKET
City grain elevators are paying SO cents
for No. 2 soft wheat. Other grades on
their merits. Cash corn new No. yellow
81 cents and oats ~ cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Fund Is Depleted

This has depleted the fund, how
ever, to 81 714,925. Sale of the
bonds and notes will raise it to
$2,349,714,925 and provide an ample
backlog for winter expenditures 1t
was hoped that this would end the
| 'Treasury's financing problems at
least until April IS, when S558,819,-
200 in notes fall due
Although the government was
supplying itself with ample cash to
spend over the next few months, it
found its public debt rapidly mount
ing to another all-time record of
$50, 541 ,606, 1874 as a result of todays
security offerings.
This was in striking distance of
the peak debt of $31 ,982, 875 484 set
by President Roosevelt for the end
of the current fiscal year next June.
Securities Priced at Par
Today'S offering came at a time
when. Mr.. Roosevelt is seeking to
pare hundreds of millions of dollars
off government expenditures that
have reached peacetime peaks. The
governments efforts along these
lines will be revealed next January
in the Presidents budget message to
Congress.
In the first five months of the cur
rent fiscal year Federal expenditures
reached $3,130,000, compared
with income of only $1.500,000 900.
For the full fiscal year which ends
June 30, next, Mr.. Roosevelt has set
expenditures at 1882, 900 and in
come at $4,470 ,349,140
The securities offered today were
priced at par. The bonds are dated
Sept. 16, 1885, and mature Sept. Is,
1947, but are subject to call after
Sept. Is, 1945. The notes are dated
Dec. 16, 1885, and mature Dec. Is,
1910.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
N. Y. Bonds
Reprinted from Saturday.
DAILY BOND INDEX
U. S. GOVERNMENT BONDS
Home Owners Loan Cor

Home owners Loan Corp.
ES4S 1890 ...ss..s -....ss. SSl0 ~ 10
IS 1907 ..,. .............., 1OO.Z3 1UOZ
Federal Farm Mortgage Corp.
BIAS 1864 .............. 80. 1924 1902
IS IS49 .s...,.s...... lUU. 20 1UU "a
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
FOREIGN
Unlisted Stock

by Blyth & CO..
NEW YORK BANK STO,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Chicago Grain Futures

by James E. Bennett & Coz
Wheat 1890 Prey
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02

clusion can be drawn. Cutting down
departmental requests is one thing.
Reducing the budget below last
years is another Cutting depart
mental requests is a matter Of
form always. Departments always
ask for more than they hope to
get.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-02
Receipts. $500

9o-l25l Good and choice ASA 5;
All weights, common and me-
dun .-.-.-.-. ..-... 375G 4 =
llZO-IoOl Good and choice 3525 n
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-04-02

the addition of cocoanut.
Candied fruit is more expensive
than the other accessories but 1t
will do wonders to almost any
everyday dish. Liquid pudding
sauces, for instance, take on new
character with the addition Of a
few tablespoonfuls of finely chop
ped candied cherries or pineapple.
Sauces, too, are valuable acces-
tories. Mushroom sauce, for in
stance, over buttered spinach
turns that underline vegetable in
to something quite exciting. see if
it doesn't.
Dreamed Eggs and Peas
Four hard cooked eggs, 2 cups
cooked peas Canned or fresh, 3
tablespoons butter, 2 tablespoons
-four, l 1-2 cups milk, 1-2 tea
spoon salt, is teaspoon pepper.
Cut eggs in thick slices and ar
range in a we'll buttered baking
dish in alternating layers with
peas. Pour a sauce over the whole
and bake thirty minutes in mod
crate oven (375 degrees F.D.
Serve from baking dish. The sauce
is made by melting butter and
when bubbling. stirring in -four.
Slowly add milk, stirring con-
stantly. Bring to the boiling point
and season with salt and pepper.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-04-02

not at hand. At the same time
Myron Taylor, chairman of the
United States Steel Corporation
told stockholders that the COM
pany was pulling out of the de-
preston. He said first quarter
operations of this major steel unit
were 41.9 per cent of capacity
compared with 35 1-2 per cent in
the first quarter of 1884.
Notwithstanding over leg
islation still is restricting buying
in these issues. There is a feeling,
however, that the issues have been
oversold and some optimism about
the possibility of greater earnings
for the companies later this year.
Detroit Edison, for instance, is
benefting considerable by the
marked improvement in motor car
production in the Detroit area, &C
cording to Wall Street reports.
Foreign exchange - Definite
plan to devalue the belga removed
one uncertainty that had retarded
| financial views. But it did in
crease the uncertainty over what
position France, Holland, Switzer-
land eventually will take. The
belga dropped yesterday more
than 100 points to around its new
devalued parity but with no great
J influence on the market.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-04-02
.NO SUSTAINED
rise ON MART
Business Reports do Not
Warrant 1t; Early
Advances Seen
Bv MAX BUCKINGHAM
rI,;,sJ press Financial Writer
(copyrixhs, 1885. United Pre'''

(Copyright, l7"'
NEW YORK, April 2.-(UPD.
-Rnsiness reports are not giving
tba background that the stock
market needs for a sustained rise
Despite belief that rise wiz f DC
seen in business induces oeiore
midsummer and that the STOCK
market soon must start discount
ing this rise, there still IS a ouSi-
ness hesitancy which prevents
marked Improvement. New orders
are being placed cautiously; Long
term buying is scarce at the mo-
ment with most operations on d
month-to-month basis.
Indicative of this heSltahcy was
Yesterdays action when railroads
showed strength as result OF the
interstate commerce commission
ruling which granted emergency
rate increases. The rest of the
stocks frmed with rails, but there
was no follow-through. trading be-
ing only 100000 shares, and the
market closed with fractional
gains.
Conditions were even worse on
the curb exchange where the TO-
600 shares exchanged made tne
smallest total since March 50
1888. The same feeling extended
into commodities with a member
ship on the New York cotton eX
change sold at $4,000, a decline OF
$1,000 and the lowest price since
1914. =.
Undertone of the market L
bullish, but no one will enter th'
market with the current uncer
tainty. Factors causing the un
certain trend include:
Rairoads-The /. c. c. decision
gave roads some relief which ma!
mean SIS, 100000 additional reye
nue. annually until June 1886. Blu
the special rates apply only OF
certain articles and granger ROAD
will not benefit greatly as all gran
routes are exclude from the IN
creases. Some, economists doub
that the roads will benefit much
feeling that higher rates will cur
tail some freight at a time tn
great need of railroads is for ad
ditional loadings. Also there |
still the uncertainty prevailing
over the pension act. Some buy
ing of railroad securities late yes
terday was on expectation of
ruling on this but the suprem
court adjourned with no decision
which means at least another wee
of uncertainty.
Steel produetion-The Ameri
can Iron & Steel Institute yester
day announced production. at Al.
per cent of capacity, a decline o
IT points which showed that tn
predicted leveling-out of the de
cline of steel operations still wa