The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-15
Trends
Highlights of News
During the Last
Week.
by FREDERICK MATSoN-
Tines Financial Writer

IN spite Of Senator Huey Long s
II 49, hour flibuster. the stop
gap" NRA resolution became law
late yesterday when President
Roosevelt afixed his signature N
the measure as soon as Y reacneo
the White House The skeletoni1eo
Blue Eagle bill Tas passed oy me
Senate on Thursday and by me
House late yesterday. IN Us
final form II extends the NRA
until April I. 1895. strips the
President Of imposing powers
but permits voluntary nOn-enforce-
able agreements among business
zrouns confined only 70 minimum
wages and hours. child labor ADO
lition and collective bargaining
The Ringflshs piece Of exni-
bitioniSm is computed 70 have cost
the government about 5000. ~
costs an average Of $50 a page 70
print the Congressional Record.
The Isl hour address Is expected
to III close 10 100 pages OF the
Record. together with the inter
change Of debate and other pro-
oeedings resulting from the fili-
buster.
A THREATENED. and seemingly
n inevitable. strike Of 45OOOO
soft coal miners was averted yes
terday by last-minute Intervention
Of President Roosevelt. The PreSi-
dent won from leaders OF both OPP
orators and urion miners an agree
ment 10 continue terms OF the
present wage contract until June
80. The strike had been called
for tomorrow. The agreement
was based uDOn belief that Dy June
30 Congress would pass the Guffey
bill. which is sponsored BY the
United Mine Workers and by
many operators. II would virtually
set I'd an individual NRA for the
bituminous coal industry. For
the second time in eight days union
workers deserted the boilers and
dynamos OF the Toledo Edison Co.
at Toledo. The strikers. some 500
in number. charged that the power
company had failed 10 abide BY
terms Of the agreement that ended
the 24-hour strike last week.
A vast Wabash Valley development
similar to the Tennessee Valley
Authority NAV some day be set up
in Indiana along lines now being
perfected in the iva. This pre-
diction was made by David z. Lili-
enthal. IVA director. who was
guest Of Mayor John w Kern for
a few hours while passing through
indianapolis on his way To class
reunion at De Pauw University.
ny a 56-fO-32 vote. the Senate
ID passed the Wheeler-Rayburn
public utility holding company bill
Fir.sl action came after an amend
ment by Senator William Dietrich
ID. ND substituting regulation for
elimination Of unnecessary hold
ing companies was rejected by one
vote. The bill as passed has
two detectives % To eliminate
all utility holding companies by
1912 which do not mt into an integ-
rated geographically essential SyS-
TEN. - To amend the Federal
water power act to enable the gov
eminent to cooperate more eff
GENTLY in the regulation OF utility
rates. A stiff fight lies ahead
Of the bill. observers believe. If the
measure finally becomes law, II has
already been indicated that the
utilities will fight to have it re-
pealed before the five-year dead
line which the bill fixes for the
companies to alter their form or
reduce their size. After more
than two months Of discussion and
argument. the committee Of In
dianapolis milk producers tenta-
lively agreed on SiS6 a hundred
weight as a basic price for milk
and will submit A marketing agree
ment. June 81. TO the State Milk
Control Board for approval
n EPLYING to the inSistent de-
N mands Of congressional silver
leaders for a statement of the Ad-
ministratiOn'S silver policy. Henry
Morgenthau Jr.. Secretary Of the
Treasury. disclosed that the Treas
urv bought 42l .497. 900 ounces OF
the white metal in the 10-mOnth
period ended MAY 81. The pur-
rbases we're 265 900 900 ounces
more than the total world prOduc-
ton for the period. The fig
ures we're made pubic by the sec
retarv in a letter TO Senator Nc
Csrran I'd. New mo had re-
oueSted the Administration to
Spike rumors that the United
states had abandoned its silver
purchase program. Mr.. Morgen-
fhau told the Senator the figures
we're sufficient answer 10 the ru-
n1ors Of a change Of policy.
MANAGEMENT Of the NRA during
the two years ending this month
cost industry and government SS5.-
ss4 SOS. according to a report by
the National Industrial Confer
ence Board this week. Industry's
total bill for code administration
as s7i .TO4 400. The Federal gov
eminent paid most Of the S2l 600,
oO0 balance. Statistics on which
Ire board based its report took no
account Of expenses Of code formu-
Iation or cost OF litigations to hrns
and individuals.