davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
On Commission ROL0

Quotations below. subject to change, are
average wholesale prices being offered 10
buyers by local commission dealers
Fruits-Bananas. 424c ID; Peaches.
b noe 81 M hIeusaH south out Stevens ba
Pears. Michigan Bartlets. bu.. 81 rs; Michi-
grown Honey Rocks; bu. sl Is Honey Honey
Blue Diamonds. bu.. 81. Watermelons In
diana Round. 30G 40c. Apules: new In
diana Jonathans. bu.. sl.35ml.5o; Grimes
Golden. bu.. 81 IS: Summer Rambes, eating,
wealthys. bu.. SlG11o, Lemons. 3cos.
s6.25 Grapefruit. California seedless. 64s.
IS. Lines. a carton. l2S. zoe. Persian
PIams. blue. red, $3.50. Grapes. seedless,
$3.50.
Vegetables-Beans. green. round string
less. bu.. Sis. Beats-Home grown. do.
Csc. Cabbage. home grown. bu. COG. Car
bulk half 6u. Use. Cauiiower. Colorado lis
l2s crate. Sl75. Celery. Michigan, washed
and trimmed jumbo. dog, 65c; medium. doz.
t5e: hearts, Hamilton Squares 59I' SIS Corn
home grown. bu.. 81. Gale. home grown.
hu. soc. Lettuce. Iceberg. California. best.
sSI5; home grown leaf, l5-lb. basket. 81;
grown. bu. 81. small basket Csc. Mint.
doz soc. Mustard. home grown. bu, CSC.
Onions. home grown. yellow. 50-lb, bag. 81,
Po Soe E T6ts SOB b pas coo
RADIO hamper. 81 90 Potatoes-virginia
cobblers. ioO-lb bag. $40: Michigan
Round White. lOo-lb- bag. sl25: early
Carolina Jerss ;. bu. sl.25. Radishes. Ohio
! buttons 2-doz. basket. CSC. Rhubaro. out
door. doz. soc. Sage. doz 45c. Spinach.
New Zealand. bu. soc. Squash. summer
io-lb. basket. s5c; bushel. sl.25.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
PORKER VALUES
DOWN 10 CENTS
AT STOCKYARDS
Market Dips Slightly After
EquaIing High Top of
S12.15.

After equaling the siX-year top OF
s1215 yesterday the pork mar
ket today turned weak to around 10
cents lower than yesterdays best
average.
With receipts and demand re-
naming at approximately the
same level as in the previous ses-
sion. livestock officials were hesi-
tant in expressing opinions regard
ing the price decline. Some Stated
that a decinue can be expected
when prices exceed the So mark.
The decrease, however, was not
general, but was most effective in
the various classes now in demand.
Receipts today were estimated at
1000. HoldoverS numbered SO, indi-
eating no change in the local con-
sumers' demand. The general bulk
OF $50 to 100 pounds caShed in at
S116O to S119O.
Bulk Of good and choice porkerS,
weighing from 100 to 1870 pounds.
was salable at S11.90 to S12O5. This
was also today'S top price. Extreme
heavy butcher kinds, scaling 300
pounds and upward, brought SLIGO
to S1180. Light slaughter pigs,
from $50 to 100 pounds, sold at
5000 to S1115. Packing sows held
at S975 to $1,000.
A steady trading range prevailed
in the cattle market on all available
supplies Quality was unattractive
despite only a few grades of low
class steers on hand. Most heiferS
were valued to sell under So, while
beef COWS brought S425 TO Sc. Bulls
ranged from Sc down.
With a strong demand support =
ing the veal market. prices again
were largely so cents higher. This
marked a 81 increase during the last
three sessions. Bulk Of good and
choice grades today was selling from
S11 to $12 The lamb market moved
around so cents to 81 higher in an
extremely active session. Bulk of
better grade eve and wether classes
sold at $40 to $1,000. Bucks were
generally discounted so cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06

Initiation Rumors
Again Subject
for Idle.
by VINCENT LYONS
Tines inancial Editor

MEATH. taxes and imitation
- rumors are the trinity Of in
eyitability. The first two are sure
IL ali ages. but the third member
might Just as well be accepted as
surety IN the present era. once
again the stories Of impending in
fiatiOn are going the rounds and.
as usual. they find a receptive
audience TO pass them along.
When imitation was first hailed
as a panacea the inhatiOnary
blOcS. organized on a nationwide
scale, preached the gospel of its
benefits. The opponents merely
pointed to other countries whose
postwar experience with that
virus had left them manned. To-
day the situation IS quite different.
Advocates are cOmpar lively
lethargic, while the Sound-money
boys are taking up the cudgel by
giving vent OF their fears over
the prospect Of such an occurrence
What mas caused the fresh out
pouring Of TumOrs IS difficult to
say. Perhaps it has been the aim
10 re-intrOduce the Patman bonus
bin at the January session Of Con-
gress. Perhaps II has been the
continued spending of the govern
ment. And perhaps it has been
idienesS provoked by the congress
Sional recess.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
.LABOR-ITS STATUS
Legislative, Monetary Gains Cited

600. Total membership, including
non-dues-p paying members, 100000.
The total armies Of organized la
Dor: FEEDER alton. 100000; outside
federation, 100000; company
unions, 2.5OO,CO0. Grand total, lC,-
08,OO0. Still only about one-fourth
of all labor, but a great deal.
2. The income of workers in
creased perhaps s2,OOO.OOO,OOo over
1888. This is due to government
spending.
3. Labor is alive, vibrant with
new energy, after fifteen years Of
f1abbiness. It's issues are being
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
MORGAN FIRM
WILL RE-ENTER
SECURITY FIELD
Seven Partners Quit Posts
to Form Separate In
VeStment Unit.
By United Press

By United Press
NEW YORK, Sept. 6.-Seven
partners and staff members with
drew from J. P Morgan & Co. today
to form the investment banking
house Of Morgan, Stanley g. Co.
The new firm presumably will
take over the investment banking
business the Morgan house was
forced to relinquish under the 1888
Banking Act, which bars any one
firm dealing in both investment and
deposit banking.
Stanley Heads Group
The new firm is headed by Har-
old Stanley, William Ewing and
Henry S. Morgan, younger son Of
j. P. Morgan. 1t will open for busi-
ness at 2 Wall-st, Sept. 1G.
The Morgan firm, when the Bank
ing Act became law in June, 1884,
separating securities and become de-
post baking. chose to deposit bank
ers. 1t relinquished tremendous in
veStment business. rs revealed by
George Whitney, a partner, to a
Senate investigating committee in
1888, the firm had, since the World
War. offered to the public $6,024,-
444, 200 of securities, of which $685.
953 400 had been retired.
A split of the Morgan company
was expected: several other firms
previously had made the move.
S7,5OO,OOO Capital Stock
Beside Stanley, Ewing and Nor
gan. the new company heads will
be Perry E. Hail. and Edward H.
York Jr., of DreXel & Co., the Phil
adelphia Morgan branch, and John
M. Young and A. N. Jones, man
ayers of Morgan's bond and statis-
teal departments.
The group will control a CAPT
tai stock of $7,500,O00, owning ex-
clusively the common stock. Some
preferred stock will be owned by
individual partners in the Morgan
company but no investment of the
parent concern will be handled by
the new company, it was said, in
statements given by both groups.
Mr.. Stanley, native of Albany, N.
Y, formerly was president of the
Guaranty Co. of New York, former
security affiliate of the Guaranty
Trust Co. He is so years old.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
BAD WEATHER HURTS
INDIANA TOMATO CROP
Total Yield Estimated at About 60
Per Cent of Normal.

Indiana's tomato crop will be only
go per cent normal, members Of the
Indiana Gamers Association re-
ported at a special meeting here
this week.
The meeting was called by Edgar
Ashby, indianapolis, president Of
the association, to take steps to halt
the rapid deterioration of the to-
mato crop.
Disease and unfavorable weather
conditions have hindered the growth
of tomatoes this year, Mr.. Ashby
reported. The expected yield of five
tons an acre has been reduced 10
three tons or less.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
BY John 7. Flynn

lCopyright. 1855. MA Service. IncJ
NEW YORK. Sept. Can we
~ make up a profit and loss ac-
count for labor on its business
these last few years? What have
been the gains? What the losses?
Where is labor heading What is
going to happen to it?
At least some gains are obvious:
/. Membership in 1882 was 2,000,-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
SEES OIL DISCOVERIES
Humble Executive Says Reserves
Must Be Uncovered.
IN Timea Snecinl

NEW YORK, Sept. 6.-The dis
covery Of many large new oil fields
in the United States will take place
in the near future. according to
Wallace E. Pratt. vice president Of
the Humble Oil and Refining Co.
Mr.. Pratt writes in the Lamp, a
publication Of the Standard Oil Co.
Of New Jersey, that reserves must
be uncovered at the rate Of billion
barrels year over the next decade,
the average Of the last 10 years. if
present reserves are to be kept
intact.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
BUSINESS GAIN SEEN
White Motor Co. Introduces New
Line of Trucks.
BIZ Times Special

b. Times Special
CLEVELAND. Sept 6.-The White
Motor Co. believes the introduction
Of a new line of trucks in the one
10 fOur-ton field, including the first
streamlined truck, will result in
doubling the current production
schedule and increase its pay roll
TO the highest point since 1929 in
the latter months this year, r. F.
Black. president. announced today.
The large volume of orders for
the new streamlined models has
made it necessary for a sharp in
crease in production schedules. Mr..
Black said. II was estimated that
from 5000 to 10000 of the new
models viii be sold during the next
IL months in addition TO other
trucks and buses.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
FINANCING CONTRACTS SIGNED

BALTIMORE, Sept. 6.-Exclusive
financing contracts, providing for
the time payment financing of the
products of the United American
Bosch Corp. and the Easy Wash
ing Machine Corp. have been signed
with Commercial Credit Co., it was
learned today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
BY Blyth & Co.. Incl
NEW YORK BANK STOCKS
FIRE INSURANCE
Aetna Fire
BUSINESS FAILURES RISE
Ru TImes SneciaI

NEW YORK. Sept. Cuisines
failures in the United States during
the week ended Aug 90 amounted to
207. compared with 1913 in the pre-
ceding week, Dun & Bradstreet.
Inc, announced here To-Day. The
increase was limited mostly I the
East and South.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
FOREIGN BONDS DECLINE

NEW YORK, Sept. 6-The index
of so representative foreign bonds
during August declined ESQ per
cent, while Is South American is
sues fell 4 per cent, according TO a
report released today by the For
eign Bond Associates, Inc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
WHEAT CONTINUES
CLIMB AT CHICAGO
Disappointing Yield Reports
Factor in Rise.
By United Press

By Lnitcd Press
CHICAGO, Sept. 6-Wheat prices
continued on the upgrade today as
bullish sentiment predominated on
the Board Of Trade.
At the start wheat was Il to z
cent higher; corn was 4 cent lower
to g cent higher; oats was 1s cent
lower to q cent higher, and rye was
unchanged to up % cent.
Continued reports of disappoint
ing yields from Canada and a gen.
eral appreciation Of the bullish fun
damental situation brought in scat
tered buying Of wheat at the start
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
(By James E. Bennett)
u Noon
IOcAL CASH MARKET

CITY grain elevators are paving 70 cents
for No. soft red wheat Other grades on
their merits Cash corn No. yellow
50 cents and oats 10 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06

John 7. Flynn. noted writer On eco
monte topics, reviews the eventfui years
since the depression visited US. This is
the fourth Of FIVE articles.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06

THE springboard for an orgy Of
Il credit initiation is present in
the S2,78O,OO0OO0 of excess reserves
now piled up in Federal Reserve
member banks throughout the
country. 1t is true, of course, that
the government. under the new
Banking Act Of 1895. has the power
TO apply the brakes to any I'M
healthy expansion. But the ques-
ton Is can the brakes be applied
quickly enough and will the availa-
able machinery mesh when 1t is
needed?
Under the terms of the silver
purchase program the Treasury is
TO purchase the white metal until
one of two alternatives is reached:
a price OF Sl.29 an ounce or the
accumulation of silver stocks equal
to one-third the amount of gold
stocks. The net result of this pro-
gram has been an increasing hoard
Of silver, which still is far short of
the desired 1-to-3 ratio, because
Of a heavy influx of gold in the
interim. and the attainment Of a
little better than half the way to-
ward the S129 an ounce goal.
The silver bloc is not entirely
-atisfied with the results OF the
governments policy and has said
%. and an inquiry into the Treas
ury's activities will be launched
hOrtly by a congressional commit
ee. What this group unearths in
Is probe undoubtedly will have
much to do with the eventual fate
f silver in the nations monetary
ystem.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
Philadelphia Gains Industries

Since the first of the year 1873 ne'c industries hare
located in Philadelphia In addition 19+ wholesale con-
Germs moUed into the city, SO manufacturers expanded
their plants and II wholesalers enlarged facilities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
Money and Exchange
INDIANAPOLIS STATEMENT
TREASURY STATEMENT
CBv United Press

WASHINGTON Sept. 6.-Government
expenses and receipts for the current
fiscal year to Sept 4. compared with a
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
Produce Markets

The prices quoted below are paid for
stock gathered in the country. while de-
livered in indianapolis the price will be
cent higher: Heavy breed breed hens. l5c;
COCKS. &c; Leghorn breed cocks, Sc; col
ored broilers. lbs. and up. 15c; Leg
horn broilers. ia lbs. and up: l2c: bare
back broilers lOc; ducks Ks tuil feathered
&C. guineas. 15c each. No. ] strictly fresh
eggs loss of 22c. Each full case must
weigh IS lbs. gross. a deduction OF loc
quoted BY the Wadlev Co.
tBy United Press
teadg fsSepts S 7B5s cases s4sdsd
dirties. I9a 23c; checks. l8G2iiac Butter
h his ; 1aos9iis score ?5a254c: extras Z q
scorel. 2574c' flrsts $685. score 23i7 IN
244c: SECONDS lS6;s7la score, 22iaa al. 23c;
/ car due broilers, 18N19c; fryers ia
chickens, i76 2oc; hens. pos. turkeys
ROSTERS. lac: chicks. i2dl7c. Cheese
Twins. 1534@16c Daisies, l6i4Ml6iac:
Longhorns 1914 d16l2c. Potatoes-Supply
Slightly stronger. wisconsin cobblers. asa
e2izc commercials. zoe; round whites; so
q Soc Bliss Triumphs. sll5a %: Idaho
Bliss Triumphs.. 81 IS; russets. 81 81 a
cobblers. goo. Arrivals. 81; on track. l66;
CLEVELAND. Sept. -Butter-Market
hrm stanaaroso, zsc- Eyes Market: Nh In
Live pcultrv-Firm coored fowls heavy.
22c: ducks. 5 lbs. UP. l6c: ducks. small. l5c.
Potatoes-lo0-lb. bags New Jersey s. 80;
Ohio. sll56 20; Pennsylvania, Sic;
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
PACIFIC COAST
OIL REDUCTION
NOT TO SPREAD
Economist Says Healthy
General Market PrecIudeS
DISCRIMINATION.
BY 4. L. JACKSON

INV YORK, Sept 6.-The sharp
break in the California crude oil
price structure Of last week is gen.
orally considered a threat to the
price structure in other parts Of the
United States. A review Of the
salient statistics OF the industry in
dicates that this price cutting will
not endure for long, nor will it
spread very widely.
Since June. 1884, the total pro-
duction Of crude oil in the United
States. plus imports, have exceeded
the total demand in only three DIFF
ferent Notwithstanding March and
April Of 1885. Since June, 1894,
crude oil stocks have declined ap-
proximately 100000 barrels and at
present are near the lowest point
Of the last decade. Ever since April
Of this year, stocks have been re-
duced contrary to seasonal demands,
so that at present, crude Oil stocks,
in terms Of consumption, are the
lowest ever recorded
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
Other livestock
by United Pressl

CHICAGO. Sept. 6.-Hogs-R Receipts. 1000,
including 5000 directs. general maFkst. 10
n 1Oc spots Csc lower than thursdays
average; underWeights fully steady ca f4y
top. sll.90 bulk 20)-250 lbs s1l.55dll 80 -:
100000 lbs s1150m II 30; good 10 zchotte
14o-160 lbs. s11G11.65; most sovs., 50 6 q
mr. Inn rn r oog s sso Teee
TO packers; salable supply Largely tputc fser
cattle; trade on all killing classes aboet
steady but slower on COWS than In Re-
cent days: practical top steers SLIPS: odd
head. SIP IS and 1890. cutter cows 81 so
down; no choice heifers here; medium
bulls up 10 s575. practical top vealers,
$40 so; stocker and feeder trade nomina NJ
steady. Sheep-Receipts 900O fat lamH
active strong 10 Csc higher; most we4
erns. l5N2sc up; 16 cars choice WashilQ-
and sales on natives mostly around sn;
best up 70 sl025, choice yearlings, So n
sheep steady; most native ewes. 81 $3.50
$50. few plain Sab. feeding lambs. SO ..
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
May BE Sent Elsewhere

1t should be noted that the excess
production up to date was bought
up, and is not necessarily over
hanging the market Thus, what
has already been produced is not a
serious problem But will the crude
producers continue to produce eX-
/ CeSSively now that it is possible to
obtain only so cents a barrel? OBJ
viouSly, this price is below the cost
of production, and it is unlikely
that oil will be sold at this price
viii it be produced and shifted to
other territories where the price is
higher?
This is possibility, and if it is
concentrated in any one district, it
will depress prices in that territory,
but will have practically no effect
on other centers. If the excess pro-
duction is widely distributed, it
would have little if any influence on
prices In view of the favorable
upply-demand condition of the in
dustry as a whole. it is logical to
expect production to be reduced in
California, and the price structure
restored to its previous level. In any
event. the national price structure
viii remain quite stable.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
Output Above Allowance

1t IS true that production has
been and is running in excess of the
allotments made by the Department
of Interior. For example. the total
United States allowance in August
was 1900 600 barrels daily. Produc-
ton during August has ranged from
2,656,800 barrels daily to 2,703,650
barrels daily. The weekly report for
Aug. "a shows production running
2,688,700 barrels daily. Naturally,
this has given rise to reports that
large quantities of hot oil were being
produced. However, as 1 pointed out
before, total production, plus i'm
ports, have consistently run below
demand and stocks have declined.
The situation in California. how
ever. is quite different. Production
in this district has exceeded demand
quite regularly since May of this
year. and stocks of California crude
have become excessive. They have
become so high that any cessation
of demand would lead to dumping
and price cutting. The refusal of
the large companies t. purchase
this excess production any longer
did result in break in prices. It
was the natural result of the arti-
fetal, voluntary or otherwise, pro-
duction or price control.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06

Il
n REENBACKS. or printing press
- money. are still in the picture.
The Patman measure, which would
ave utilized this method. was We
bed by President Roosevelt amid
lie plaudits Of the hard-mOney
aternity. The bonus, however. is
ne original die-hard and the same
Altman measure will come up
gain for action at the next ses-
on of Congress. The American
g egion convention, scheduled for
ter in the month at St Louis.
lGOubtedly Will have lot TO say
lout new bonus legislation.
Then. too, it is known that some
r 1ngreSSmen look with favor upon
le idea of paying of part of the
1vernment's mounting sum of
onded Indebtedness by the print
cypress route. BY swapping these
.reenbacks for outstanding bonds.
Is argued by proponents of the
Ian. the Treasury would save the
interest which it now pays on the
-OndS.
Thus. excess reserves. silver and
reenbacks are the three powerful
Influences which may be set in mo-
ion to bring about imitation. The
rst would bring about a credit in
alton, the other two a currency
lflatiOn. Whether President
roosevelt can hold the fort
against congressional inlationary
eminent is questionable.
DERHAPS the fact that the
/ United States public debt has
mounted to the highest total on
-ecord has brought some initiation
ists around to the point where they
think that printing press money
could be utilized to pare this in
debtedneSs. They should revise
their reasoning to include the
knowledge that the government is
also an imposing creditor.
The Treasury on Wednesday an
nounced that government credit
agencies have pumped So At $685.
e44 into business. banks and homes
since the start of the depression.
This represents the sum which is
owed the government by the vari-
Gus corporations. banking inStitu
lions and individuals which have
taken advantage OF the New Deals
prOffer of help.
Now, what Is sauce for the goose
IS also sauce for the gander. Ram
pant initiation could produce a sit
uation where all Of this indebted
ness 10 the government could be
paid-Of with imitation money
money which has deprecated
greatly III value. But while the
debt Of others to the government
was being wiped out. the govern
ment's debt TO others would remain
intact. in most instances. because
the bonded debt has set maturity
dates attached TO il.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06
N. Y. Bonds

tBv Abbott. Proctor g. Panel
Reprinted from Yesterday
DAILY BOND INDEX
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-09-06

FT WAYNE, Sept. -Hogs-steady u
lOc lower: 225-25O lbs. slI 90; 250-275 lbs
sl180: 275-3O0 lbs. sll70: 200-225 los.
$3.50: 3O0-35O lbs. sII5O: 15O-1eo %
sil; 140-l50 lbs, sl075;. 130-1z0 l1S
s1025: 120-l30 lbs, $40: ll0-l20 lbs. 50 r
100-1l0 lbs. 50 50; TOughs. 1913, stays, .
Calves, Sl1. Lambs. So