davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-04
WALLACE SEES
FURTHER GAINS
TO U. S. FARMS
Rise in Agricultural Prices
During 1885 Is Hope
of Secretary.
BY THOMAS L. STOKES
Times Special Writer

WASHINGTON, Jan. A hope
full outlook for agriculture was seer
today by Secretary of Agriculture
Henry A. Wallace, who expects g
further increase in farm income or
top of last years marked gains.
1T is anticipated that there will
be some increase in income in 1885
largely because of greatly improved
livestock, dairy and poultry prices,
the secretary said.
He cautioned, however, that these
gains may be offset to some extent
by lower returns for grain.
IF there is ordinary weather in
1885 there are prospects in the lat
ter half of the year for greatly re-
duced prices for grain which may in
some measure offset the increase in
livestock, dairy and poultry prices,
he explained.
Little Hope for Exports
The United States, Mr.. Wallace
said; must continue to plan largely
on the basis of domestic expecta-
tons, for he holds little hope of any
appreciable foreign market this
year.
There is as yet no prospect of
sufficient increase of industrial i'm
ports into the United States to as
sure any increase in agricultural
exports in 1885," he said.
Il am deeply concerned about
that"
The secretary expressed hope that
this Government will get results
from its negotiations for reciprocal
tariff agreements, project that lies
close to his heart. He recognizes
however, that this, at best, will take
time.
Encouraged by Cotton Vote
One of the most encouraging signs
to Secretary Wallace as he looked
ahead into the new year was the
overwhelming vote cast by farmers
for continuation of the compulsory
cotton production control of the
Bankhead Act for another year. Mr.
Wallace said he was never in doubt
about the outcome of the referen-
DUN.
This year, the secretary feels, will
bring to an end the strictly emergen-
cy character of farm production
control which, in the case of some
crops, may cause in time an in
crease rather than a decrease in
production.
Necessary as it was to meet the
curtailed foreign markets and Tie
surplus crisis of 1888, reduction in
output is only a very partial and
paradoxical answer in the long run
to the crying need which is ex-
pressed in the phrase balanced
abundance he said,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-04
Money and Exchange
TREASURY STATEMENT

(By United Press
WASHINGTON Jan 4-Government ex-
penses and receipts for the current fiscal
year to Jan g. compared with the CORE
spending period of the previous fiscal year:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-04

Indianapolis Debts
Set New Mark
for Day.
by VINCENT s. LYONS.
Times Financial Editor

THE daily statement yesterday
l. for the Indianapolis Clearing
House revealed that debts for the
preceding day aggregated s10,0l3,-
600. This represented the first
time that the 100000 mark had
been crossed in some time. Here
is proof positive that increased
funds are being poured into the
credit stream of the city.
OF course It is true that debts
tend to increase at the Inaugural
ton Of a new quarter, but the in
crease reported yesterday is of
more than usual interest. On the
preceding day the total of debts
was s7.O26.1OO. On the first bust
ness day last year the sum was
only 1854. 900. while on the final
day Of 1888 the figure was $685.
600.
Thus. it can be seen that on
these two important settlement
DAYS the total money involved for
the 1934-1935 period was sl7,039,-
600. contrasted with s14829,0 900 in
the 1933-1934 period. The volume
Of check transactions, which debts
really represent, is as good a ba-
rOmeter of business as can be
found. On this basis it would
seem that the trade volume here is
starting of the new year in grand
style.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-04

A REFRESHING bit of informa-
L n ton has come out of Chicago
in the form of statistics showing
that both the number and value Of
real estate foreclosures in Cook
County cid during 1884 regis
tered a sharp decline from the pre-
Ceding twelve months.
The total number of forced real
ty sales in the twelve months Of
1884 was 1852, a decline of 1861
from the 1898 reported in 1888.
In the value of property involved
the record was even more impress
sive; the 1884 figure of S166, $751;
467 representing a reduction of
more than 30 per cent from the
1852 084,797 value in 1888.
This is truly an impressive for
ward stride in the movement to
bring a halt to the wave of fore
closures throughout the country
with its consequent i'll effects upon
general real estate values. Cook
County, in which is included the
city of Chicago, has been one Of
of the spots on the nations map
which has been hard hit by these
forced sales.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-04

SHEEP AND LAMBS
Receipts 5000
choice .. ~. "-' So .ss5oa 900
Common and medium ......... 6006 $50
9o-120 lbs, good and choice. -. 5000 400
G2O-i5o) Good and choice. 80. 2.5o@ $50
dium ...... .'c '- 2.ooa 800
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-04
FINANCIAL DATA

AS of October 81. 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
REALTY SALES
SET new HIGH
September Volume in Nation
48.5 Per Cent of 1926
Base Figure.
By Times Special


CHICAGO, Oct 19.-Urban real
estate sales for September set a
new recovery high, according to re-
ports compiled for the National AS
ISOLATION of Real Estate Boards
from major cities. The compilation
is of number of voluntary transfers,
and is corrected for seasonal vari-
ations. 1t shows total sales for
September to have been 48.5 per
cent of the 1926 base figure.
In the cities studied, cross sec
ton of the country, the tabulation
shows that the upturn in real es-
tate sales began in 1888, in the
months Immediately following the
bank holiday. Since June of the
present year there has been no, in
terruption of this movement.
With vacant dwelling space dis
appearing" Walter. S. r.. Schmidt.
president Of the association, said.
rents in metropolitan centers have
risen for apartments to SGT per cent
of the 1925 level, for single family
dwellings to 1928 per cent of the
1926 rate.
while construction costs rose
sharply in 1888 and hav enot fallen,
a chart would show the line of in
come return of existing buildings
rapidly moving to cross and top the
line representing construction costs.
But meantime, new family accom-
modations being constructed are as
yet only 20.4 per cent of the 1926
volume.
las a people we would do we'll
to realize that by encouraging sound
new home building now, before a
shortage becomes too drastic. we
shall do much not only to take ad-
vantage of. the present favorable
market but also to mitigate a sud-
den climbing of rent costs, con-
struction costs and costs of new
homes. which we shall certainly
have If fear on the part of invest
ment groups is allowed artihcially
to hold us back"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19

ton. They, therefore, do this by pro-
ducing less and taking measures to
insure cotton being kept off the
market to increase the scarcity.
They do succeed in getting the price
up. But at the same time they
succeed in two other courses, One
is to reduce seriously the foreign
market. The other is to encourage
other countries to stimulate their
production.
The net effect is that while we
usually produce one-half of all the
cotton produced i'll the world, we
have for the last three years fallen
we'll behind this mark. Now if the
planners, recognizing the loss of the
foreign markets, would say here
after we will raise only what is nee
essary for the domestic market and
let the whole foreign market go,
putting a prohibitive tariff on
cotton imports and getting the price
away up in the air for domestic
uses, you might understand their
approach.
You probably would not favor
such a course, but it would be I'M
derstandable. But as long as the
planter depends on the foreign
market, and as long as we produce
a surplus and must sell it abroad,
what objective is gained by get
ting the price to point where sales
fall off more than enough to cam
Gel the gains in price?
But this further fact arises still
further to bewilder U.S. The rest
Of the world has been trying to slim
ulate cotton production. We have
been moving Heaven and earth to
reduce it. Yet, crop estimates for
this year indicate that Egyptian
production will increase 9 per cent,
China's crop will drop, Russia's will
be about the same as last years,
and India's will rise per cent-and
ours will increase Is per cent.
Ours, in spite of our limitation
measures, will show an increase
twice as large as that of any ma
ton in the world.
Of course, it is proper to say that
but for the limitation measures the
increase would have been greater
That is true. But the effect upon
the cotton problem is merely mat
ter of fractions and leaves it hang
ing in the air, facing collapse, the
instant government support and
government subsidies are withdrawn
Copyright, 1885. NEA Service. Inc)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
On Commission ROrU
Reprinted From Late Times Yesterda,

(Reprinted From Late Times Yesterday
Quotations below subject to change are
average wholesale prices being offered to
BUYERS by local commission dealers:
bushel s225; Avocados. Florida. box 81
neutrality-suspicious. Rockyfords, stand
ards Us to 15s, 85c; Honey Dews. Colo
SIS Grapes-Mchigan 12-qt basket 35c
ples-Indiana Jonathans. s125G135; Sum-
mer Rambos. ST. Delicious, s1.5od IS
Wealthys', 81: Grimes Golden Cargel, :l35.
Grapefruit GAS to 7os. 1915. Lines
Mexican carton lis. zoe; Persian seed
Vegetables-Beans, green, round string
less bu.: 81. Psets-Home gr9vn d to.
75c. Carrots-Home grown and Ohio. SOC;
new bulk half bu.. 65c. Caulifower-Colo-
RADIO, lis, Us. crate. sl9o. Celery-Michi-
gan. washed and trimmed Jumbo doz:,
cucumbers- dollhouse. doz box $40
iceberg. California. best. s3.75: home
grown leaf. 15-lb. basket. SOC. Endive-
Ohio. basket. 45c., Mangoes-home grown.
SOC. Mustard-Home grown. bu, soc,
Onions-Indiana yellow, 50-lb bag, 90c;
Indiana white 50-lb. bag. 81; Utah Span
ish. 50-lb. bag, 81 40. Parsley-Home grown.
doz.. 35c. Peas--Telephone., hampers; s5.25
$50; Michigan Round White: ioo-lb bag
sl25: Early Ohios. bu.. s1.35. Sweet po-
tatoes-North Carolina. Jerseys. bus. 81 10
Radishes-Ohio buttons 2-doz. baskets
boz. 45c spinach-New Zealand. bu 65c
bunch. doz.. soc Tomatoes-Hom grown
lo-lb basket. 65c; bushel, s225,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
SHIPMENTS OF
PRODUCE CLIMB
Daily CarIot Movements
Placed at 5000 Cars
for Week.

By Times Special
WASHINGTON, Oct. 10. Pro-
duce shipments @turned extremely
active in the Midwestern district
last week, averaging more than
5000 cars daily. according to the
weekly report of the Department of
Agriculture, released today.
The most active lines were po-
tatoes, apples and grapes, which to-
gether made up more than three
fourths of the total movement. The
season is reaching its height a lit
tie later this year because of de-
lay in the harvest, the report
stated.
The recent sharp price advances
in potatoes and onions have slim
ulated marketing, and these two
products are now the center of in
terest due to the strengthening of
the general position and the strong
market action. Other products are
moving in about the usual volume
al ILLS Cliilc vi Illc ycdI, SIlOWlllS
only little change in prices.
The market tone for lettuce, cell
cry and apples developed f1rmness,
while cabbage prices strengthened
in some MidWestern markets. Re-
ports of freezing in the north CEN
trail states and light yields in East
ern sections has resulted in sharp
advances in the pototo markets, es-
pecially in the East.
Prices paid growers in northern
Maine have nearly doubled, COM
pared with the lowest prices last
month. This has been attributed
to speculative buying. Despite
heavy supplies reported in most
Midwestern markets, good fruits
have maintained steady prices. A
weak demand has been reported in
the Eastern and Southern apple
sections without much effect on
prices.
Cabbage markets also have held
fairly we'll, with red cabbage from
Indiana and Wisconsin selling in st.
Louis at $50 to $40 a ton, With the
celery season nearing it's end, Mich
igan reports steady market. Crates
are selling in Chicago from so to
go cents each.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
GOLD, SILVER INFLOW
DECREASES FOR WEEK
Imports of Yellow Metal Drop to
S3S,603,511.
BY,I nited Press

by Il Hted Press
WASHINGTON, Oct. 19.-Imports
of both gold and silver dropped off
sharply during the week of Oct. II,
the Department Of Commerce re-
ported today.
Gold imports amounted to s38,-
6o3,51l, compared with S99,211, 09l
for the previous week. Silver i'm
ports amounted to 5000, o2e. The
only monetary exports during the
week were s34376 silver, all of which
was sent to Canada.
France sent the United States
sl5,862. 1922 in. gold. the Netherlands
9,840,776, the United Kingdom
s6.06S,63 British India s2,756 $40,
and Canada s1,S4s,e92 During the
week Italy sent so ounces of gold
ore and base bullion to this country
1t was valued at Sl757.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
j. s. LAUNCHES
FRESH INQUIRY
into TAX PHASE
Incomes of Small Wage
Garner and Big Business
Under Scrutiny.

By United Press
WASHINGTON, Oct. 19. = The
government began a survey today Of
the incomes of the small wage earn
er and big business with a view to
obtaining figures for possible new
tax legislation.
Treasury officials denied the study
was preliminary to higher income
tax rates. but in view of dwindling
Federal revenues and official efforts
to obtain a more equitable tax
system, the survey was regarded as
significant
Simultaneously with announce
ment of the tax study. Treasury off,
Gals released figures showing
slump in tax collections over the
last eight weeks, principally be-
cause of non-payment of taxes by
various food professors.
Among the announced aims of the
study are:
l. Detailed analysis of all 5000, 900
of 1894 income tax returns, includ-
ing those under $4,000, to determine
source of income.
2. Breakdown of collections by
cities and counties of 25 900 popula-
ton or over to determine distribu-
ton of incomes.
3. Compilation of returns and
partnerships and flduciaries for the
years 1881 to 1884 for the first time.
4. Analysis of returns of big
corporations over last nine years to
gauge shift IN corporate earnings
and their depreciation policies
which have large bearing on their
income tax liabilities.
Collections for September fell to
$378,8 400 from 1919, 1888 a year
ago and continued their decline in
the first half of October. This is
the first time since December, 1892.
that tax revenues have failed to
exceed those of the corresponding
period of the previous year.
A drop in processing tax collec-
lions to S12,670.249 from sac. 292. 07s
in September, 1894, largely was re-
sponsible for the loss. Alcoholic
beverage tax collections rose to
SAL ,003,200 from s31 .997, 607 and in
come taxes to 1921, 491, 424 from
S172, 1856. 857.
Collections of other taxes fell to
500, 705, 493 from s135, O88,345, but this
drop was accounted for by The fact
that heavy capital stock taxes we're
collected later this year and hence
distorted the September o-Septem-
Der comparison.
The income tax study will be car
ried on with $1,200,0000 works-relief
appropriation. The Treasury hopes
eventually to have 1900 white COL
lar" workers on this program in New
York, Chicago. Philadelphia. Boston
and Cleveland. Already $50 have
been hired for the headquarters at
Baltimore.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
REICH FOREIGN TRADE
FAVORABLE FOR MONTH
September Brings Export Surplus of
55,100,OOO Marks.
Ilnlicd PrcxS


BERLIN, Oct. 19-Germany for
the fifth consecutive month had a
favorable balance of trade in Sep
TENDER. Exports in that month. as
reported officially today, amounted
to 100000 marks, while imports
were 317900O0O marks favorable
balance of So 100000 marks.
In August the favorable balance
was 50000000 marks.
Because of a severely adverse bal
ance early in the year. the trade fig
ures for the first nine months show
a balance in favor Of imports. The
latter for the period through Sep
TENDER amounted to 3093,300 900
marks. while exports were 1882
100000 marks. trade deficit of ST.
100000 marks.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
STEEL PAY RISE HIT
Weir Says 1t Would Have to Be
Passed on to Prices.

By INES SpPctnt
PITTSBURGH, Oct. 10. = Steel
workers requests for higher wages
drew from Ernest T. Weir, chairman
of the National Steel Corp, the
comment that "a raise would have
to be passed on in higher prices,
and certainly couldn't help bust
ness.
In fact, it would be more apt to
react the other way" said Mr.. Weir,
commenting on requests for higher
pay by employee representation
groups of the Jones & Laughlin
Steel Corp, and the American Sheet
& Tin Plate Co., a United States
Steel subsidiary.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
Produce Markets
tReprinted From Late Times Yesterday

The prices quoted below are paid for
stock gathered in the country. while de-
livered in Indiana polls the price will be
cent higher: Heavy. breed hens. i6c;
Az lbs. l5c: under 41a lbs. 16c: old cocks.
Sc: Leghorn broilers. Ia lbs and up, l2e;
bareback broilers. 1oc: ducks. full feath;
tat &c: guineas l5c each No / strictly
fresh egees. loss of 24c Each. full case
must weigh IS lbs gross deduction OF
lOc a pound under So lbs will be made
Butter. No l. 3063lc: butterfat, No. /.
23c: No. 2. 22e Quoted bv the Wadiey Co
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
COTTON POLICY
OF GOVERNMENT
HELD UNSOUND
Objective Defeated by Drop
in Sales to Foreign
Consumers.
BY JOHN r. FLYNN

NEW YORK, Oct. 19-The va
carries of price fixing, price pegging,
commodity planning are, to say the
least, little bewildering.
For instance, we have a great
cotton crop. 1t has been our most
important export item. Whatever.
therefore, tends to injure the for
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
Hole URGED TO ACT
Officers Recommended Foreclosure
Suits Against So Creditors,

BY Times Special
CHICAGO, Oct 19-Oficers Of
the Home owners Loan Corp. here
have recommended foreclosure suits
against 81 delinquent property own
ers in Illinois and Wisconsin, it was
announced at headquarters here
today.
Only IS foreclosures Of the 50
recommended actually have been
started, Charles Collins, acting
HOLC regional director for the two
states, said.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
COMMODITY INDEX UP
Sc PER CENT IN 1895
Wholesale Prices Show Slight Gain
for Week Ended Oct. IL.
By Times Special

BY Iimcs SpCciGt
WASHINGTON, Oct. 19.-The
wholesale commodity price index
advanced two-tenths of l per cent
in the week ended Oct. IS, bring
ing the index up to 8O7 per cent Of
the 1926 average, the Bureau of La
Dor Statistics announced today.
This was an increase of So per
cent over year ago and "a per cent
above the depression low point.
reached during the week of March
4, 1893.
The various groups showing in
creases included farm products.
foods, hides and leather products,
textiles, chemicals and drugs and
miscellaneous groups. Prices of
hides, skins and leather increased
IA per cent, sending the index to
1913 for that group.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
TRUST CALLS MEETING
International Carriers Seeks Broad
ening of Investment Policy.

BY Times Special
NEW YORK, Oct. ia special
stockholders meeting has been called
for Nov. 10 by International Car
riers, Ltd, for the purpose of vot-
ing on a recommendation that the
company invest its assets in securi-
ties of a general nature rather than
in railroad issues exclusively, it was
announced today.
To reflect the proposed change in
policy the stockholders have also
been asked to approve a change in
name to Carriers and General Corp,
it was said.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19

eign market for
cotton will tend
to injure the
American cot
ton grower. Also
whatever tends
to raj sc the
price above the
world price will
terd to diminish
our forei g n
market.
But American
p | a n n e r S
want to raise
tho prjco IF cOt
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
GAS STOCK OFFERED
$4,000 Shares of Atlantic Gas Light
Issues to be Sold.
Blu TiiacS NpCcjai

CHICAGO. Oct. 19.-Public of
ering of 10000 shares of the Atlantic
Gas Light Co. per cent cumulative
preferred stock. by means of a pros
pectus. is being made by Hammons
& Co, Inc, it was announced today.
The Atlantic Gas Light Co, is
wholly owned subsidiary of Consoh-
dated Electric and Gas Co. to which
the shares were issued and delivered
with 100000 in cash for payment of
the s2.3040 900 principal amount of 6
per cent notes due l949.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
A. E. MINISTRY ELECTED

bH IWfN \VtCiNT
CHICAGO, Oct 19.-AddiS E. Nc
Kinstry. who early this year retired
as president of the International
Harvester Co.. has been appointed
chairman of the company's execu-
tive committee, it was announced
today. -
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
CAR. FINANCING RISES
September Sets New High Mark
Since Start of Depression.

By nlted Press
WASHINGTON, Oct. 19-Sep-
TENDER retail financing of new auto
mobiles hit peak for the month
since the start of the depression, the
Department of Commerce reported
today.
This years volume was per cent
greater than last year and II per
cent more than in 1888. A decrease
of IT'S per cent, somewhat more
than the usual seasonal decline.
took place in September as COM
pared with August.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19

10 workers, and
o consumers who
buy its products.
James A. EN-
Fry, general coun-
sci of the Nation
al Association of
M a n u ( a cturers
s aid yes" He
urg e d business
men to lean upon
their trade asso-
Citations and CO.
operate with the
F e d eral Trade
G o m m sSiO n
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
VIEWS DIFFER
ON REGULATION
FOR BUSINESS
Counsel for Manufacturers
Says Industry Can
Govern Itself.
BV I uitcd Press

BIZ Luitcd Press
WASHINGTON, Oct. 19.-Seyeral
prominent public figures today
sought solution of the New Deal
problem of business regulation. All
got different answers. The ques-
ton was whether industry can per-
manently govern itself voluntarily
with fairness to all its members,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
LOCAL CASH MARKET

CITY grains elevators are paying Csc
for No 2 soft wheat. Other grades on
their merits Cash corn No. yellow "a
cents and oats 81 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-19
London Buying Securities

London it is said in Wall Street, has been dctire on
the buying side for sereral sessions. There is talk
that important British interests hare been using
marked gold to purchase American securities.