davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
SWINE VALUES
DOWN 10 CENTS
Loss Registered in Butcher
Weights; Cattle Are
Active.

Prices we're steady to 10 cents
lower in hog market trading at the
indianapolis Stockyards today, with
a loss being registered particularly
on butcher weights, 21O to 22o
pounds.
Bulk of the classes, 100 to 235
pounds, sold for $3.50 to S9.65. with
a few choice grades quoted at SO .!o.
Heavier weights, 235 to $50 pounds,
cashed in for SO to $3.50. Light
weights. 100 to 100 pounds, brought
S810 to 1885, and packing soWs So
to $3.50. with a few at S8.75. There
were $500 receipts and l67 4ett-
overs.
In the cattle market, all classes
were more active today than re-
Gently, particularly to packers ana
shippers. Trading was strong to
higher, better grade steers bringing
SO. so to $11.50, the latter price 1or
finished 1400-pounderS.
Low grade killers sold for $3.50 to
80 and most heiters at $3.50 to 1925.
Beef COWS were largely S4.75 to
$3.50. Low cutters and cutters
cashed in to So to $3.50, and bulls,
$3.50 to Sc. Receipts were l2OO.
Vealers were generally steady, good
and choice grades bringing So to
$3.50. There were 600 receipts.
Lambs were about Is cents lower.
Good and choice eve and wether
lambs sold for 1925 to $3.50, with a
few at S8.75. Slaughter sheep
cashed in at 81 to SO. Receipts
totaled 1000.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
INDUSTRIAL PRODUCTION
DROPS FOR 4TH MONTH
Factory Employment and Pay Rolls
Also Dip During May.

Factory Employment and Pay Rolls
Also Dip During May.
By Times Special
WASHINGTON, June 26.-Indus-
trial production during May de-
clined for the fourth consecutive
month, the Federal Reserve Board
reported here today Factory en-
ployment and pay rolls also showed
slight decrease during the month,
with residential construction re-
naming slightly above the levels
Of a year ago.
Freight carloadings in May, how
ever, increased slightly, attributed
mostly to the usual seasonal gain.
Coal shipments showed the largest
increase in the shipping division.
Department store sales continued at
3bout the same level as a year ago.
Practically all wholesale prices de-
clined during the month, the report
stated.
Reserve balances of member banks
increased slightly during the month
due to gold imports, the Federal Re-
serve Board reported. During the
five weeks ending June 10 the re-
serve balance showed an increase Of
SITS, 900 000 The decline in steel
mill output during May and thu
first three weeks of June was re-
garded as seasonal, the report said.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
On Commission ROIC

Quotations below are arerarr wholesale
prices being offered 90 cITcrs o. local
Commission dealers
Fruits Barauas. 4rtc % s-rau berries
home gr1gu -f-Qr case s. 81 81 Goose
berries 1f-Ct- case - hasnoerries req
rf-rr CASE 81 Birenrsrrtes- GeorEle-
gf-nt crate SD so Cherries California To-
rs uv So IS. home ErCWn sour -4-qi c.se.
crate 81 So iumno. a.. 50 rs california
.fardsrfs ass So 50 Honey Dcus south
America Sc so WarcEwel0us W1tsoil.-
$50. Round. SOC A. PES choice lrausf- e
f71s e. Grapefruit Florida scealeSs ess.
COS sos So -e. Car inrul1. So dlte, cls
fnne 81 rf Plufauu.e.. SIS. - zines
M-vt-au per carton. zoe. Persian seed
y----sb.rs- Cabbage. home rrowu- bG-
So Onions new Texas Ne4l0u. 10-ln. na
So mrN Texas Wul,r '1-in
Potatoes Green Mountains lol-lh osss.
northern Round whites il1-lh naE 81
Ort1s fr1-ln hsE 81 30 lr1un $3.50
Ir0-lr bar g. o. new lfiunnle-
fsr g. SucrL notatocs- Nancy HaiL
hrrn-rs 81 Beans. -rffn siring-ess
rr--re-r 81 Is. Wax. g. CELERY. washed
90 Sri IS W.rhN1u medium sos jumbo
III cr-- Is CurlmterF h'thouse oo5
81 r'ar sev Coz Es- plant sl-5ai @
d0~ EaIr 1usre. sac Corn S1ilnetn-
fr- crate AZ SIS Er-ftre %. mouse ~
Ir basket ass California lccncrs nt .a
i--.r-- &c IS Mar-'rs 81 81 nalneE
.u-4w -rslr- $50 cfiuf dor 55c P4rs-
To- ~ $50 Peas home EroNu. nus1e-
s1t go S0.rech. home crnHn- nlst-e- oac
Do pots home -roel en ~.
Crrr-tV California crate $ CO..
uHurarr outdoor Crr. aaE- Mlsl4t . us
IL IN 7Sr tomatoes home SO r. 49,.
Al quotations subject 90 eaanSe I'D o.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
Ne7O York Stocks
BvLniied Prr~

BIZ United Prcss
NEW YORK, June 26.-Leading
issues turned down in the early
afternoon dealings on the Stock Ex-
change today, while selective buying
went ahead in several individual.
issues.
Trading was quiet in all sections
even Radio which featured in early
dealings. The latter held at its 1885
high Of g.. up T. Other issues TO
register gains were sears Roeouck-
Chrysler. Great Northern preferred,
Westinghouse Electric and Columbia
Pictures. The last named scared 8
points 10 81. The others were up
fractiOnally.
American Telephone was de-
pressed Is to 1247s, which in turn
was of s.. points from the years
high recently made. American Can
slipped back a full point to 1879
and Continental Can lost : to 8l3s.
United States Steel, Consolidated
Gas. Auburn Auto. and General
Motors we're slightly lower.
United States Smelling declared a
dividend of 50 a share. against 81
in the previous quarter and that
helped the stock to soar 81. points
TO 10.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
AIR CONDITION
HOMES APPEAR
IN WASHINGTON
Washington Builder Erecting
48 Houses Equipped With
New Development.
81 Times Special

81 Times Special
NEW YORK. June 26.-Complets
control of air conditions in the
home has become a reality for large
scale development OF moderately
priced houses. according to the Gem
eral Electric Air Conditioning In
stitute. Pioneering in this respect,
a Washington ID. c. builder is
constructing 48 modern homes
built to sell for $lL95O complete
with electric range. refrigerator and
year-around air conditioning for the
entire house.
Air conditioning has previously
seen its greatest acceptance for in
duStrial and commercial use-in
factories, theaterS, restaurants,
stores, hotels and trainS-where
profit is a major factor of its use.
Comfort conditioning of homes is =
more recent development and has
been mainly limited to individual
residences of higher price. Even
these have seldom been equipped
throughout with complete year.
around conditioning.
Domestic summer cooling has
been usually limited to single room
applications, effected by self con-
tanned room units. Now available
for homes in a wide price range.
complete year-arsund conditioning
gains increasing Importance in the
current housing boom.
The duct system is so designed and
equipped with hampers that the first
floor may be cooled by day, the sec
end by night. When temperatures
are not too extreme, the entirs
house may be cooled at once. The
conditioner will be regulated by au-
tomato temperature and humidity
| controls. The main control, with
thermoStat, humidiStat and switch
es, will be on the first floor, with
another thermoStat in the master
bedroom to control cooling during
the night when only the bedrooms
on the second floor are to be cooled.
| The system is designed to circu-
late 1000 cubic feet per minute OF
heated air and 800 per minute of
cooled air, of which approximately
one-third will be outside air. 1t will
provide six complete changes of air
per hour during the heating season.
with eight or nine in the cooling
season. The cooling system will
keep the inside air from 10 to Is
degrees cooler than the outside air,
and will have cooling capacity OF
10000 BTU per hour. or, in other
words, the amount OF heat which
would melt 2 tons of ice in "a hours.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
MAY ISSUE NEW STOCK
Gil den Co Plans Sale of Additional
100000 Common Shares.
By Times Special

7 TTTTTT
CLEVELAND, June 26.-Plans for
the sale Of additional common stock
of Glidden Co. have been presented
TO stockholders, it was announced
here today. Under the new plans
present stockholders may purchase
the new issue at subscription price
of $50 a share.
The proposal, which was outlined
in letter to stockholders, calls for
the issuance of 100000 additional
shares of common stock. Sixteen
additional shares will be allocated
to each holder of 100 shares Of tina
stock who is of record July 3. The
right to purchase new stock under
the plan expires July %.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
FRUITS AN vrGrr,CLEs

CHICAGO June -F 80 Illinois
h -rrr sl-t- ff 81 Carrots western. craze
-.---- fr-r s. sweet Fo-ar0rs- tennessee
r--rrrf s5r-7- Lettuce Western. crate
4 --~ ef -sr- S0 Leaf Lettuce Illinois
Ia r. cartoons -rr-5c Eeaue- L9llisl ans
--.-r, tr.-F- CahhsUc- Illinois lettuce
rrarr e. rrar- Csafcru-a. tus1fl hauiRer
al -r-1rrre<- TeNes 4u-. 81 Il 2
spinach Illinois hgsrcA 81 Gus
s.--s-r-r-. rTr.r-.e SQUARE -rarr. co-
81 -s- Enuhsrh- Illinois - u cartons
az see Crtru wsrEft 81 10 s.SN>
Trvae vrwrnt SfIori1s 1sras White
a. trs7f-s California Closes. s. i9sr 70
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
LEAD STOCKS HIGHER
Increase More Than 5000 Tons
shown in Month Ended MAY 81.

NEW YORK. June %. - The
American Bureau Of Metal Statistics
reported today that stocks of Lead
in the United States on May q. to-
tailed 225.O57 short tons. against 900 =
O4S at the end OF April and 233.245
on Nav 81. 1884
Production OF lead during the
month was S7.35S short tons. against
g $50 in April and 39.67S in May.
1884
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
INCENTIVE LACKING,
GRAIN MARTS DULL
Irregular Price Range Is
Rule at Start.
81 UnitCd Press

ny tHtttN 'S"c
CHICAGO, June 26.-Although
sentiment was slightly bullish, wheat
traders were inclined to sit back and
await a fresh incentive today on the
Chicago Board Of Trade.
At the start wheat was = cent
lower to z cent higher, corn was
up 4 to p cent, oats were - to Is
cent higher and rye was unchanged
to off q cent
Reports of scattered showers in
parts of the Southwest were reSpon-
sible for scattered buying of wheat.
Commission houses were the largest
buyers. The trade paid little atten-
ton to easineSs in the Liverpool
market. Heavy rains over many sec
tons of Illinois and Iowa brought
in some buying Of corn.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26

Civil Works Administration.
Income Of the home -owner in this
city slumped 37.2 per cent from 1929
to 1888, the survey disclosed, while
the recession in the income of the
tenant family receded by 30 per cent.
OF 1852 urban home-ownerS re-
porting 6O7 per cent showed family
income of $1,000 and over. whereas
of the 1888 tenants reporting 51.3
per cent disclosed incomes above the
$1,000 bracket.
$4,000 Incomes Shown
The home owners moved out
ahead of the tenants in the point Of
income above the $4,000 mark. The
former showed ISL per cent Of all
reporting in this classification,
against only 80 per cent reported by
the tenant group.
The recession in the hometown
ers' income was less marked in In
dianapolis than it was for the rest
of the country surveyed. The de-
cline in income for 50 cities studied
was 35 per cent during the four
year period. while for the East
North Central division. into which
Indianapolis was placed, recorded a
40 per cent loss.
Average family income of tenants
in this city declined less than the
geographical division, but was
slightly ahead of the average for
/ The country. The declines were 81
81 and SO, respectively.
Range Disclosed
The relative decline in home
owners incomes ranged from II pei
cent in Binghamton to SO per cent
in Racine. The decline in average
income of tenants varied from L
per cent in Richmond to At per cent
in Racine.
Average incomes reported fol
owners declined at a more nearly
uniform rate and more sharply dur
ing the four years than tenant
incomes. With the exception o.
Binghamton, Charleston and Jack
sonville, the declines we're more
than 25 per cent in all cities. The
percentage of decline of owner-in-
come in Erie, Cleveland. Lansing
was a.. Birmingham At, Kenosha ii
and Butte 40. These cities also hac
sharply declining tenant incomes
tions. tenant incomes in Richmond
/ nitinc Her TPn1lc.
declining Is per cent and in Bing-
hamton, Greensboro and Charles
ton Is per cent.
The largest changes in average
incomes among the geographic
areas occurred in six East NortF
Central cities where declines II
home owners incomes were 43 pei
cent and in tenants incomes 81
per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
NeU York Curb
{ BY Abbott, Proctor & Paine)
GOLD OUTPUT LOWER

BIZ Times SpfciGI
MONTREAL, June 26.-Gold pro-
duced in Ontario mines during May
amounted to lS3.124 ounces, valued
at s6.30O.l92. compared with the
total of s6.454.614 mined in the same
month last year, it was announced
today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
Other livestock
CBv United Press

CHICAGO June -Hogs-Receiptis;.
$50 aus1o'2 2so-52s 51 lbs. s865@s4o; 10000
lbs. s8.5o@945; most PIGS $40 90 d9 iighf
good packenGg y, sowS aSd cboce ss g
g $50 light light weight Sei 10000 lbs, good
and choice, sS.75@9.5O; medium weights.
2Oo-25O lbs. good and ch9ice $g cd5 SJV
choice, So .50m9.3o; packing sows' 275-S33ee-
lbs. medium and choice, s7q835i
sIaqghteF pigs 1Ool4O lbs s6 gSco CAVES He
1900 liberal run better grade fed steers
and long yearlings in crop; early trace
Steady to strong. but comparatively IL:
done: and general undertone steady
weak; early top owejjghty steers, sl2 %:
ali grade heifers strong to Is cents higher;
cows steady to strong and vealers steady
to weak; bulls steady; best heifers. Stops.
good good AMID AMID c ch0cs s sS
u SO: 1300-150o-lb.; good and choice. $40
@1275; 55o-l3oO lbs. common and me
dun S4Sa 10 5serS ~ 5oo19O 1S goodd
medium. s4.25m8.25; cows, good. $3.50
$50: common and medium. "a Is n 25; low
cutter and cutter, s3@4.29; pulls year
common and medium 81 50M 25; year
lings good and choice, s75Om9; medium.
S6.25d7.75:. Gull and common, S5@6.25:
ID. good and choice. s7M8.75; common
and medium. s475@7 sheep-Receipts
5000: spring lambs and ,yearli,ngs rather tfl,Ir
native sprngers, SO down early top So.2j:
good TO choice vesrlings eligible. $50 625
s sRe a ss9ssG Sheen na n
lambs: spring lambs. good and choice.
81 500 OPS; medium, s6.35d775; ewes 90
weights, common and medium. sl5O@25O.
LAFAYETTE. June :. 2s. -! market 6st
950 225-25o lbs s925@955; 10000 lbs,
81 4O rdnsbs l1 Is IS do@n 5 oG4o 3
down: Clipped lambs, IS down; spring
lambs. $3.50 down.
BY Times specisI
LOUISVILLE. June 6.-Cattle-Recetpts.
of slaughter cattle; killing quality gen
orally plain; market moderately active and
generally STEADY: bulk common to medium medium
dryfeds ouotable to around $40. common
70 meoiu7i grade grassy beef cows. s4.25G
heifer t types ;Sss ouotable higher: low Cutters
sage bulls, s4G5; practical top. IS 25:
stocker trade slow and about steady. Calves
receipts. 325. including about rs stock
choice veaiers' $7a7.5o medium and lowe
market steady, practical top, better l69-
Up to Sc IS: most 230-275 lbs s875: 28o
lbs up s835: l40-l55 lbs. $3.50: 12O-135
lbs s735; sows. s775, Sheep-Receipts
lambs: early bids. Is to so cents lower
with sellers generally asking steady: some
desirable Tennessee springers to a local
packer early steady al S8.75: bulk fat
ewes $50 down Receipts Tuesday: Cat
tie 1873 calves, 292; hogs, $50: sheep. 1854
hogs. 262: sheep. 1911.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
STEP FORWARD
SEEN IN ENDING
OF PRICE-FIXINC
Industry Must Be Watched
to Prevent a Recurrence,
Economist Holds.
BY JULES BACKMAN
Consuitinz Economist.

NEW YORK. June 2e.-The elm
ination Of price fixing from the re-
vised NRA Is a constructive step.
The artificial and inhexible price
structure that was fostered under
the NRA has been an important
factor in slowing up progress along
the road TO recovery.
In complex economy such as
that IN which We live. prices must
be- free 70 adjust themselves to
changing conditions OF supply and
demand II severe Embellishments
n The price structure are TO DC
avoided. Many OF our troubles dur
ing The last few years can be traced
% the various artificial" barriers
which acre erected during the post
war period and in the early years
~ the depression.
our high tariff policy. as excm-
phfed by the Smoot -Hawley tariff
Of 1880. the Farm Board experiment
and price fixing under the AAA. are
a.l samples Of these artificial bar
riers. Our economy is 50 complex
az so dehcately balanced that
parts Of It can not be "artiflcially''
regulated. while other parts are sub
ject 10 automatic adjustments with
out creating disturbances which find
repercuSSions on all sides.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
CANADA CAR OUTPUT UP

~ 4 timex NpfCtNt
OTTAWA, June 26-Automobile
production in Canada during May
amounted to 20,765 units, compared
with 20,161 in the same period last
year, it was reported here today.
During the first five months of 1885
output was 1854 against 68,l79 in
the like 1884 period.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
CREDIT SETS PEAK
Chicago Federal Home Land Bank
Shows S12,O15,275 Out.

o IWtN NUtFIuI
CHICAGO. June 26.-Outstand-
ing credit Of the Federal Home
Loan Bank here. on June 20,
amounted to s12.o15 ,275, a new peak
for the current year. according to
the weekly report released today
from the Home Loan ONCE.
Advances to building and loan
associations in the Illinois Wiscon-
sin district have increased by APP
proximately $500, 900 since the first
of April, and close to s40O 900 since
June l. the report stated. The Chi
cago bank has passed the other II
units of the system in total ad-
vances since May l.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
]. A. BROWN PROMOTED
By I i'm es Specie

? :
CHICAGO, June 26.-John A.
Brown, superintendent of the East
ern district Of the John R. Thomp-
son Co., national restaurant system,
has been promoted to general super
intendent Of the company, it was
announced here today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
BOND MATURITIES UP
SLIGHTLY FOR JULY
New Orleans Public Service Heads
List With S11, 546, 500 Expiration.

By Times Speciai
NEW YORK, June 26.-Corporate
bond maturities during July will
total S50,886,15 the Standard Sta
tisticS Co., declared in an analysis
issued today. The number of bonds
and notes making up the total is
143, of which II amount to S1,000,-
600 or more.
The figure compares with $59,Oo9,
900 in June and with S43 Ill 500 in
August.
New Orleans Public Service, Inc,
heads the list with a maturity of
S11 ,546,600 of general Az per cent
bonds. The second highest is the
Portland General Electric Co., which
is faced with the retirement Of
S6,5470O0 of first IS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
Produce Markets

ire r-t-rs euotet oe-cu are pad fof
rrrre gathered tu the country. Ell-e &C.
Erere1 Boz Indianapolis the price wll g 3
rrrr nterer Hrarw rreeG hens. Il Leg
horn hrer1 hens los. heavy breed COCKS.
-- Lrrlc-r t-ccc COCKS. &c. colorec
h-r.rrrs 9 .es and o. fac LeEtoru c-cll-
rre f-s and ur 1tc Bareback BROKERS.
f-- ducks flL felthere1 and fat *
geese fI- fearlere1 and fat 3c- No
Frr.r+lr tresh fE-s loss % lac. zach Fun
ease Must weight SIS lbs. gross. q deduction
90 Toe Pound lr1er S lus gi- ce m11e
Blfter-Nc 3 60. Csc c-tfcrfat. &c
G1cse1 tv The Wadlrv Co
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
Wall ST.
Business Becoming
Social Minded
Quickly.
BY RALPH MISUNDERSTOOD
Tines special Writer

NEW YORK. June IS When
- All The cards have been PLAYED
in The same ~ fighting The 1873
dcprrse. ion. a. least one blue emp
i- likely 20 reside in The pile 10
front % the Roosevelt Admin
tration. That chip agurat.Fely
spsak.nr. Viu represent The sue
ccSfuI injection 90 s0cia! con-
SCION ness into the ann % business
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
Most True of Prices

The above statement is especially
true in connection with prices.
Every one is interested in prices
the consumer as ultimate buyer and
the prOducer-becaUse they repre-
sent the costs Of making his prod
uct and the source Of his income.
II prices are controlled it also be-
comes necessary to control prOduc-
ton. distribution and consumption.
il balanced conditions are to pre-
gail
In a democratic state all of these
factors can not be controlled with
out the forfeiture OF economic free
dom by individuals. Regulation of
demand means RECOMMENDATION.
Every one must be told what to
cat wear and do. Otherwise there
viii be Embellishments. Men must
BE- told 10 wear white shirts instead
OF brown shirts regardless of
tastes If Embellishments between
the production OF various colored
shirts are 10 be avoided.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-26
SAVINGS BANKS
IN N. Y. RETAIN
CURRENT RATES
Will Pay 2I2 Per Cent in
Third Quarter; Future
Is CIOuded.
BV Times Special

BIZ Times Special
NEW YORK, June 26.-The saw
ings banks of New York City have
decided to maintain present interest
rates during the third quarter. This
was ascertalned today after it was
learned that the leading banks had
discussed the possibilities of reduc-
ing the present 2is per cent annual
rate to per cent.
The 2l3 per cent rate is fairly
general throughout New York State.
A few weeks ago, however. the
Peoples Savings Bank of New Ro-
chelle announced a reduction TO 2
per cent. This action led to wide
spread rumor that other banks
would follow the New Rochelle
banks course.
If the present trend Of the money
market continues, it is possible that
the New York banks will consider
a reduction to per cent, effective
January l. Most banks, however,
are DESTROYS of keeping the rate
where it now stands.
Earnings Above Rate
Contrary to impressions generally
held, many savings banks are earn
Ing substantially more than the 2i2
per cent they are paying depositors.
The flow of funds is away from
the savings banks at the moment.
This is due partly to limitations on
the amounts that may be deposited
and partly to Withdrawals for vaca-
ton expenses.
Despite this tendency, savings
banks, like other institutional in
vestors, have a problem in how to
put depositors' money profitably to
work. The thawing of the jam in
the capital market has helped to
some extent, but the amount of new
financing is still away below the
levels which savings banks and
other investors are in position to
absorb.
Competition Is Lessened
In the last few years competi-
ton among the savings banks has
measurably lessened and there now
is a Semblance of unanimity to the
actions Of the banks. 1t is hoped
by many leading bankers that if any
changes in interest rates are de-
cided upon they will be put into
effect as a blanket action. The
L l.. H..
prove or disapprove any change in
interest rates, although he has no
mandatory power to change them.
The prevailing 2l2 per cent rate is
the lowest in many years. Should
the banks reduce to 2 per cent, this
would be the lowest rate paid saw
ings depositors since 1875.