davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
Other livestock
by Times Special }

10y 1lHleS OpbCldl
LOUISVILLE June attle-Receipts
ESQ: run light and mostly stockers. feeders
and directs; demand very dull; grassy
slaughter steers and heifers fully Csc OF
more lower; cows and bulls generally Csc
of; bulk common to medium steers and
heifers s6G6.50: common grassy killers
down to IS: better finished steers and
heifers scarce, good kinds considered
cows. s4G5; practical top IS. So low cut
tiers and cutters generally s225G so: bulk
sausage bulls s4@5; practical top con-
sidered. s5.25: stockers slow and about
steady Calves-Receipts. 400; including
100 stock calves; vealers steady; bulk bet
ter grades. s6d7; medium and lower grades.
IS SO down. Hogs-Receipts. 600; market
steady top and bulk desirable, 160-225 lbs
se.35: 23o-275 lbs. $3.50; 2so lbs. up. $40;
l40-155 lbs. S3.35: 120-l35 lbs, 81 20; sows
$3.50. Sheep-Receipts. 1000; run includes
double Tennessee rail springers and mod
crate quota of overnight offerings; trucked-
in supply very light because of heavy
rains; demand improved for better grade
springers: market not established but sell
lers generally asking Csc higher or S3G
825 for better nearby truck-in ewes and
wethers. and up to s8.75 for good TO choice
rail and overnight Offering: buck lambs
discounted 81; bulk considered salable s7G
$50: most throwout springers, $3.50: fat
ewes generally $3.50 down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
U. S. ABAND0NS PLAN
OF N. Y. POWER PLANT
New and Satisfactory Arrangement
Given as Reason for Action.
By Times Special

- ~ q NaAaNt = NttAaAA
NEW YORK. June 2l-The
threat Of Federal power plant for
New York City vas removed today
when spokesman for the PWA de-
clared that plans for such an even
tuality had been abandoned.
The Treasury. it was pointed out.
has entered into a new and salts
factory arrangement with the Con-
solidated Gas Co. of New York for
government power requirements.
OF S3.780.0O0 allotted for a plant
$4,000 has been returned. The
Florence represents expenditures
Of preliminary work looking to-
ard construction Of a plant, it was
explained.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
PORKERS SHOW
UNEVEN TREND
Market Generally Steady to
10 Cents Lower;
VeaIS Even.

An uneven trading range devel-
oped IN the pork market at the In
dianapolis Union Stockyards today,
where prices were generally steady
to 10 cents lower, excepting butcher
classes, which were largely 20 cents
lower than yesterdays best average.
Receipts we're estimated at 5000.
an increase of 1000 over the pre-
vious supply. This, together with
Eastern consumers still hopeful in
forcing fresh meat prices from cur
rent high levels, were considered the
two depressing factors in today's
trade. Initial dealings, however,
were fairly active, due mostly to
yesterdays light supply.
The general bulk of 100 to $50
pounds cashed in at 1895 to 1910,
while heaviest weights on hand,
scaling $50 pounds and upward,
were selling at $3.50 to 1925. Light
classes, scaling 100 to 100 pounds,
sold at $685. to $685.. Other light
lights, weighing 100 to 100 pounds,
brought $50 to $3.50. Packing
sows held at SO to $3.50. Holdovers
were 1877.
Initial dealings showed only a
little change in the cattle market,
especially in slaughter steers, where
a weekend cleanup trade prevailed.
Best steers, weighing around 140O
pounds, sold at $11. Other classes
were inactive. Receipts were 400
VealerS again held steady, selling at
$3.50 down. Receipts were 600.
With interest light in the lamb
market prices continued mostly I'M
changed at yesterdays best average.
Bulk of better eve and wether
grades was salable from $7.35 to
1925. Bucks were discounted ST.
Slaughter sheep solo from 81 to SO.
Receipts numbered 600.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
ADVERTISING INCREASES

CHICAGO. June 2l.-Newspapei
advertising volume during May held
the gains established in May. 1884
and added 20 per cent 70 that To-
tai. according 10 ananalySis Of fig-
ures from 81 cities reported BY Ad-
vertising Age. The total lineage II
those cities IN May. 1884. was i64
o43.000. while In May. 1885. adveE-
Using aggregated l6s. $4,000 lines.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21

also are afraid
that the power
they have been
able 70 exert on
occasion because
Of their disCre-
tionary use Of de-
posters fun d s
viii be wTested
from them
The first Of
these two reasons
would seem 20 be
justified The SEC
ond would appear
20 be but natural
Taken toEether.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
FEDERAL FARM LOAN BONDS
ZINC OUTPUT GAINS
World Figure Up, But Domestic
Production Ebbs.
By Times Special

By Times Special
NEW YORK. June 21.-World
production of zinc in May totaled
1885 short tons, compared with
l08.179 short tons in the same
month last year. it was reported to-
day by the American Bureau Of
Metal Statistics.
The output Ct zinc in the United
States showed a slight decrease,
production amounting 10 34,597
short tons, against 1884 short tons
in April.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21

NEW YORK, June 21.-Concen-
tration of ownership and control of
Americas industries in fewer hands
inevitably will be accelerated by the
abrogation of NRA, many econ
omists and business leaders believe.
This is a movement which has
been progressing for many years, as
recent authoritative works have
shown, but under the NRA an at
tempt was made to make it possible
for the small business to survive in
competition against the larger.
Prices under a number of the
codes were controlled on basis to
give the majority fair profit-but
the larger and better organized
concerns profited the most. 1t now
appears that considerable competi-
ton is to be restored and private
initiative stimulated-with the re-
suit that the leaders will forge
ahead more rapidly and the weaker
units suffer many casualties.
Study Shows Losses
How true this is likely to be may
be gathered from study of the
losses of businesses of various sizes
before the codes we're written, made
recently by Solomon Fabricant, and
published by the National Bureau
of Economic Research.
The following table, taken from
this study, reports the rates of earn
ing, or rather loss, of corporations
in the United States in 1881 and
1882, classified by size, and regards
officers salaries as part of business
expense
Total Net AS No. of Cor P c. Net In
sets lin 81 n00) DOratiOnS come of Cap |.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21

Here we see that only the very
largest were able to make profits in
these two years. On the whole, the
smaller the corporation the more
heavily it lost.
A few weeks ago the Brookings
Institution issued book in which
the MIRA was reported from every
angle. This study clearly portrayed
the tendency toward concentration
under the codes into larger and
stronger units. And yet the small
man was protected in many ways.
If industry now organizes for
"self-regulation," with the most
powerful units in the saddle, it can
hardly be presumed that small COM
panies will receive greater protec-
ton.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
COACH ORDER LET

NEW YORK, June N.-Ihe
American Car and Foundry Motors,
a subsidiary of the American Car
and Foundry Co., has received an
order from the Memphis Street
Railway Co. for Is Ace H-l3-S
ccaches, it was announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
Wall St.
Bank Reform Aimed
Sans UncOvering
of Present Ills
BY RALPH HENDERSON,
Tines Special Writer

NEW YORK. June 2l--Bankers
- generally have expressed in
no uncertain terms opposition 20
the proposed banking act Of 1885.
They have hit it from all angles.
but primarily they fear the re-
sources Of private citizens Of the
country intrusted % them viii be
appropriated for political use II the
act becomes Law. They obviously
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
LAWYERS WAX
DUBIOUS OVER
SIBLEYS PLAN
Possibility Of Getting AID.
vance Opinions on Anti.
Trust Cases Questioned.

BIZ ScVipps-Hoic1fd AciCspaper Alliance
WASHINGTON. June claw
yers today expressed doubt that the
little-knOwn "declaratory judg-
ments" law Of 1884 could be used
widely 10 free business men Of the
fear Of antitrust law prosecution Tor
The activities Of their trade associa-
tons.
But the action Of Harper Sibley,
president Of the United States
Chamber Of Commerce. in citing this
so far unused Law. which provides a
way TO obtain opinions in advance"
from Federal courts on antitrust
questions. was expected to result in
an effort 10 obtain prior benediction
Of the courts for concerted business
action.
This law was enacted last June
after a long campaign by Repre-
sentative Montague ID. Va. L
met no opposition on the floor of
either house
It provides that in cases of ac-
tual controversy the courts of the
United States shall have power upon
petitions or other appropriate plead
ings to declare rights and other le-
gal relations of any interested party
petitioning for such declaration. and
such declaration shall have the force
and effect of a final judgment or
decree and be renewable as such. "
Business men have long sought
means by which TO make agree
ments or form associations to carry
out common aims without violating
the antitrust laws. which forbid
combinations in restraint of trade. "
But Attorneys General and the
Federal Courts alike have refused
to approve such cooperation in ad-
vance. Before NRA business men
had TO go ahead and do what they
wanted, If they dared, and take a
chance on prosecution.
Even with the new Declaratory
Judgments act, lawyers pointed out,
the Constitution may stand in the
way of advance opinions by the
courts except in a limited field.
Courts Deny Requests
The Constitution gives the Fed
eral Courts jurisdiction over eases
and controversies" and the courts
have repeatedly rejected requests
for opinions in advance of the COM
mission of questionable acts. on the
ground that no controversy yet ex-
listed.
On the other hand. if the claim
Of controversy is evidenced by a
prosecuting attorneys threat to
prosecute if a certain thing-such
as price maintenance-iS done, the
courts have been vigilant against
collision between the prosecutor
and the business man.
Thus the new laws phrase, "in
cases Of actual controversy is held
by legal experts TO prevent any
opinions until a case is established
right up to the point where a law
suit is involved.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
Experience Is Wide

Some believe America has had
enough experience with monopolieS
to know what this means. The eff
fects of monopoliStic organization
upon political control, upon schools,
churches and all public and semi
public institutions is now matter
of record.
Here is a fundamental conflict
Technical progress and efficiency
seem to lead inevitably to concen-
tration of control on the one hand,
and resistance from the public on
the other. Small business does not
wish to be wiped out. Consumers
do not wish to pay monopoly prices.
Public spirited citizens resent dom
nance of Legislatures by large COM
binations of corporations. Some
pose the dilemma as choice be-
tween recovery or reform.
Mr.. Roosevelt is one who believes
that the public can regulate great
concentrations Of economic power
through political means. Prof. Paul
H. Douglas, in his recent book, Con-
trolling Depressions," is not of the
same mind. He thinks that to save
the capitalist system it will be
necessary for the government &C
tually to take over the operation of
basic industries, such as the rail-
ways, power utilities and even iron
and steel and heavy chemicals.
The abrogation of NRA brings
the problem more sharply to the
fore. Many are convinced that this
is the most important economic and
political puzzle involved in finding
a way to recovery. Its adjustment
may mean the difference between
Fascism and Democracy, many are
convinced.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
BY James E. Bennett,
LOCAL CASE MARKEr

CITY grain elevators are paving - cents
for No soft red wheat other grades on
their merits. Cash corn No. 5 yellow
IS cents and cats 7e cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
Concentrations
Outawing of MIRA Seen Advancing Capitalization of
Corporate Ownership in Hands of Few.
BY BARROW LYONS


o a o
il of
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
TAX PROPOSAL
SEEN YIELDING
100 MILLIONS
New Reservoir Likely in
Banning Exemption on
federal, Municipal Liens.
By United Press

BIZ United Press
WASHINGTON, June 21.-Ad-
ministration officials hoped today
to tap a new tax reservoir which
may ultimately yield S1OO,OOO,O0O
year by ending further issuance of
taX-eXempt securities.
President Roosevelt in a special
message to Congress urged
Twenty Amendment" to
the Constitution to eliminate tax
exemption on all future Federal,
state and municipal securities.
These governmental units would
then be permitted to tax security
issues of each other.
Now outstanding are some $685.
000,000000 to $50000,000, 900 in tax
free securities of the Federal gov
eminent and political subdivisions.
Hundreds of thousands of holders
are exempt from payment of in
come or other taxes on the interest
they receive. These securities would
not be affected by the proposed
amendment, but all future issues
would be subject to income taxa
ton.
First Strong Plea
Recent Republican Presidents and
their Treasury secretaries have
questioned desirability of issuance of
tax exempt securities, but this is the
first time that any President has so
strongly urged legislation to end
this privilege. Secretary of Treas
ury Henry Morgenthau Jr. in
March, 1884, urged a new amend
ment ending tax exemptions.
Treasury officials SO far have re-
fused to reveal estimates of possible
revenue from taxation of govern
ment securities, but the United
Press learned today that their hopes
run upward of a hundred million
dollars.
New Dealers do not foreSee i'm
pairment of the borrowing power Of
donment Of tax exempt securities
Present tax-exempt issues, it is be-
lieved, would rise above current lev
els because of the taX-eXemption,
while subsequent taxable securities
probably would be sold at the same
rates of interest as present issues.
Some Persons Dubious
Some persons believe, however,
that little net revenue would be OBJ
tanned by taxing governmental
bonds. They argue that govern
mental borrowers would be COM
PEELED to pay higher interest rates
and thereby diSsipate the additional
tax revenue.
Along with Administration efforts
to level off big incomes and estates
taxation of government securities
would plug another loophole where
the wealthy have escaped govern
ment taxation.
Internal Revenue Bureau figures
showed today that income taxpayers
in 1882 listed SUBSTITUTES in
wholly or partly tax-exempt securi-
ties on which they received interest
during the year amounting to $780,
26o,923. Tens of billions of other
tax-eXempt securities were not re-
ported as they probably were in the
smaller returns which are not seq
regated.
Included in the $16,257, 147,839 of
reported tax-exempt securities were
$11.916,864,0 900 held by corporations
and by various investment organiza-
tons. At least $100,000000 in new
taxes, it was estimated, could be
drained from this heretofore I'M
tapped tax source.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
Other livestock
iBY United Pressl


O HG aed9ne ? 5gs directs
steady with THURSDAY; 200-240 lbs, SO IS a
s?9 eNt[ 4oIaoo tOR 6s sSs '' bugs s
Light lights l40-i6O lbs, good Ia and choicei
sood and choice $3.50 ss0 Medium WegSs
10000 lbs good and ch S S So95
Choice. So .8O@ so: packing soEs. $3.50
lbs medium and choice. s7.25d 8.65;
Slaughter pigs. lO0-l40 lbs. good os anno
calves. 500: meager supply fed steers here;
Bulk. s6'25Gs75; outside demand narrow;
E6e SocR cows aBd q hers most
weak to Is cents lower: most lower grace
cows ruling 10 to, is cents of with better
Up ii to SO. but bulk s8.5O down; most cut
ter cows at s42S down to sS ;.- oQit Is
5sad o teM % ia ~ ca vesrs
IFS; g00olIoS lbs. good and choice; g .2 q
bs ~ good odSOa and Choice So $50
i0,25; heifers,. 55o-75O lbs, so99:d and =
eh9s &c : soSs f3od sna meGH
and ~ medium. s4.25q6.50: low cutter and
cutter bulls .yefaTings e2oIId snd
medium s4.5oMsz5: vealers. good :, and
choice. ssd $50: medium. s6.50h8: Gun ana
common. 500 b .0U. StOCkeI anu
tie: Steers. 550-lO50 lbs. good and choice.
STA 8.75: common and medium. s4.75g Z
Sheep-Receipts. 5000: active with carry
Clearance: spring lambs and yearlings. 10
to Is cents and more higher: sheep. nrm
seven doubles choice Idahoes. SO. Is: natives.
So soa8-75: yeariings s6d 6.75; two doubles.
81 ID. straight at inside; native ewes: ST
325 mostly Slaughter sheep ana lamps
Spring lambs geoS an e. ch s%ss soslso
lbs good and choice. si.T54 $50: all
weights. common and medium. sl25@2-S5.
LAFAYETTE, June H Igs .! =, i
9S5 lbs So 3oGs.z0: 235-275 lbs. SO .05 a
500 25552s lbs s875gsS 90 1910 1oo 1 "a
iSs ssds25: roughs. ss down; calves. 81
down; clipped lambs. IS down; spring
lambs. s725 down.
FIT. WAYNE. June 2l.-Hogs-Steady
i60-225 lbs. $3.50: 2O0-250 lbs. 50 40. $50.
500 lbs. So 20: 30O-35O lbs. So 05; l5o5l6
lbs ss.l5; l4o-l5O lbs, $3.50; lao-l4o l3 oo
roughs. s775: stays. S5.75. Calves-S1.5O
Lambs-Ss; clipped lambs, So.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
INDIANA TRADE
. FOR MAY SETS
4-YEAR RECORD
General Improvement Cited
by Indiana University
Business Branch.
BIZ Times Special

BIZ Times Special
BLOOMINGTON, Ind, June 21.-
General business conditions in In
diana during May we're better than
at any time since May, 1881, &C
cording to the review issued today
by the Indiana University Bureau Of
Business Research.
Used car sales set a record for
May" the Review said. SALES in
the first five months were slightly
under the record set in 1929. New
car sales were higher during the
first five months of 1885 than dur
ing any like period since 1880"
The Review explained that there
was slight decline in employ
ment during May. but that the av-
erage for the last month was slightly
higher than the April average. Con-
Germs manufacturing food and kin
dred products we're more active. The
steel industry was less active dur
ing the latter half of May.
Sales Drives Waged
Most merchants waged agrees
Sive sales campaigns, and newspa-
per advertising continued to COM
pare favorably with the like period
year earlier" the Review contin-
ued. Although April sales were
stimulated by late Easter and
weather conditions were unfavor-
able during May, department store
trade was only slightly under a
month ago. With few exceptions,
department store sales compared
favorably with the like periods in
the past three years.
Automobile production made a
little more than the usual seasonal
decline but Indiana's figure was
we'll above the like periods in the
past three years. Production of
auto parts and accessories was
about equal to year ago The
limestone industry remained very
quiet. Furniture production made
a seasonal decline but remained
higher than during any other May
since 1920"
indianapolis Cited
The Reviews report on Indianap-
oils follows:
Little change was noted in the
general business situation. Indus
trial employment was slightly under
a month ago, but as per cent above
a year ago. Metal trades employ
ment compared favorably with the
like periods in the past five years.
Non industrial concerns reported
their employment slightly above a
month ago and year ago.
preliminary reports indicate that
department store sales we're about
equal to a month ago and or 8
per cent above a year ago. Only
minor changes were noted in drug
store sales. Post Office receipts we're
1.8 per cent above a month ago and
al per cent above year ago. Bank
debts were higher than during any
other month since July, 1881.
Freight car loadings we're little
above month ago and year ago."
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21
(By United Press

CHICAGO, June Eggs-Market firm:
23c; current receipts, 22c; dirties, 2O24c;
ceipts. I9 2s7 tubs extra f1rsts lso-sl5 z
scoreJ, 22p2212c; extras l92 scorel, 23c;
firstS $780, score, 21A a q lac; seconds
(86-87l2 scorei, 2012c; specials. 23i2M24c;
standards; 23c. Poultry Market weak:
bToilers, i "a lsc; fryers. I74 I9c; old
&c; turkeys, l4G tic; leghorn hens, 100
l3c; spring chickens. 10 a zoe. Cheese
Twins, 13M13Mc; Daisies. 13izM1334c;
Longhorns. 49, &c. Potatoes-Old
stock, supply liberal; demand and trading
slow; market weaker: Idaho Russets,
sl.22i2. New stock. supply liberal: de-
mand an dtradng good; market weaker
on Triumphs. better on Cobblers: Arkansas
Bliss Triumphs s1.40M1.50 Texas Bliss
Triumphs. 81 so; Oklahoma Cobblers 9Oc{
Alabama Snading Rose showing some de-
cayl sl10Ml.20; California Burbanks.
sl70: North Carolina Cobblers S1.35m145
Arrivals, 1876; on track, 342, shipments.
713.
CLEVELAND. June 21.-Butter- Market
steady; extras, 27c; standards. pic. Eggs
Market steady: extra whites. Csc; extra
irsts. pc; current receipts. 21l2c. Poul-
try-Market weak; heavy fowls, 19c med
ium fowl, i8d 19c. young ducks, l8M 19c;
old ducks. l5c. Potatoes-Ohio, IS n 90c
100-lb. bag; North Carolina Cobblers.
81 .40d1.50 l00-lb. bag; California Long
Whites. s2d225.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-21

they form the reasonable basis for
a determined fight But what about
the welfare Of the nation as a
whole7 DepOsitors seem 10 be about
the only ones who are uninterested.
Among the causes Of the depres-
sion. 10 viii be granted BY most
people. vas the fact that We had
an inefficient banking system For
Some reason or another II did not
stand I'D as 10 should have done
When a crisis developed IN 1882 1t
was necessary TO close the banks TO
protect them. A national monetary
Panic was narrowly averted.
WHY the banks did not stand
w up is not entirely clear. Opin-
ions differ very widely on the sub
ject. Neither the bankers them
selves nor the legislators in Wash
ington seem TO have given much
thought 20 II. The one side seems
bent upon reform and the other
side seems Just as determined that
no reform shall take place. No one
on either side. so far as your cor
respondent knows. has attempted
seriously to discover or TO acquaint
the public with the weaknesses Of
the present system
Most people. no doubt. desire a
banking system which will be
sturdy enough TO withstand an eco
nOmic storm. We all know that the
old system failed. but no tangible
arguments have been advanced 10
indicate that the system If re-
formed along proposed lines will
not also fail
Under the direction OF private
bankers and with but a minimum
Of Federal supervision the system
vent haywire Now it Is proposed
TO take direction out of the hands
Of private individuals and place 1t
IN the hands OF the government. If
the proposal is adopted 1t means
that the President Will appoint
some one or some group 10 direct
our banking activities. The new
group may or may not be more
worthy Of the trust. but It is doubt
ful If il will know any more about
the job.
az
COMMON sense would seem to
- suggest that the government
and the bankers stop wrangling
over who is going to control such
money as the public may deposit in
our banks in the future and at
tempt TO do a constructive job Of
repair work And the first thing 10
90. obviously. would be TO find out
what was wrong with the system
we now have. Was the breakdown
due TO poor judgment on the part
Of the bankers or were the laws
under which they operated at
fault2
What happened to the Federal
Reserve Board2 Did these polite
ally appointed men fail TO do their
job2 Were bank examinations han
died carelessly. and. If so. who was
responsible?
When We have the answer 10
these and other pertinent questions
we may then stand a chance Of
rectifying the faults in the bank
ing structure. Until then the
chances are that We are only play
ing marbles.